Photo

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Photo

Down in the mines

A look inside the mines of Poland's state-controlled JSW company, the biggest coking coal producer in the European Union.  Slideshow 

Photo

Inside Ariel Castro's house

Inside the Cleveland home of Ariel Castro.  Slideshow 

Sponsored Links

BroadSoft forecasts lower current-quarter revenue; shares fall

Related Topics

Wed Feb 27, 2013 6:51pm EST

(Reuters) - Internet communications company BroadSoft Inc forecast current-quarter revenue below analysts' estimates, sending its shares down 24 percent after market.

BroadSoft, which sells software that telecom companies use to provide voice and video services, forecast first-quarter revenue of $37 million to $40 million, while analysts were expecting $43.6 million on average.

The company said it expects its growth to be affected by weakness in its consumer applications division prior to service providers ramping up their voice-over-LTE investment.

Consumer applications are part of the company's license software business, which accounts for more than half of its total revenue.

Network operators globally are currently in a multi-year investment cycle to upgrade mobile networks to a 4G technology known as LTE, which offers up to 10 times faster download speeds.

BroadSoft's fourth-quarter results, however, were above analysts' expectations. Excluding one-time items, the company earned 47 cents per share, ahead of analysts' expectations for 41 cents per share.

Revenue rose 13 percent to $45.8 million, also ahead of the $45.7 million Wall Street had estimated, according to Thomson Reuters I/B/E/S.

Net income fell to $4.9 million, or 17 per share, from $5.5 million, or 19 cents per share, a year earlier.

Shares of the Gaithersburg, Maryland-based company fell to $23.42, after closing at $30.91 on Wednesday on the Nasdaq.

(Reporting by Neha Alawadhi in Bangalore; Editing by Sreejiraj Eluvangal)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.