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Acme Packet 1st-qtr profit falls
May 2, 2012 / 8:20 PM / 5 years ago

Acme Packet 1st-qtr profit falls

May 2 (Reuters) - Network gear maker Acme Packet Inc reported a fall in first-quarter profit as revenue fell 4 percent.

For the first quarter, the company earned $2.4 million, or 3 cents a share, compared with $13.7 million, or 19 cents a share, a year ago.

Excluding items, it earned 17 cents a share, on revenue of $70.8 million.

The Bedford, Massachusetts-based company’s shares, which have lost 28 percent of their market value in the last six months, fell 8 percent in extended trading. They closed at $28.22 on Wednesday on the Nasdaq.

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