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What: Shares of Acme Packet
So what: The preliminary results peg revenue between $66 million and $68 million, with adjusted earnings in the range of $0.12 to $0.13 per share. Those figures are far short of the $74 million in sales and $0.18 per share of adjusted profit that the market was expecting.
Now what: CEO Andy Ory again cited "continued weakness in the North American service provider market," which is starting to get a bit old. It's the same song and dance we've been hearing for nearly a year, and investors are justifiably losing patience. After continued missteps in execution, I think it may be time to give up on Acme Packet.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Acme Packet. The Motley Fool has a disclosure policy.
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