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UPDATE 1-Syniverse posts lower Q3 profit, tightens FY rev view

Mon Nov 2, 2009 5:45pm EST

Stocks

   

* Q3 EPS $0.26 vs $0.37 yr ago

* Rev falls 15 pct

* Sees FY rev $466 mln-$472mln

* Sees FY cash net income $98.5 mln-$103 mln

* Shares fall 6 pct in extended trade

Nov 2 (Reuters) - Syniverse Holdings Inc (SVR.N) posted a lower quarterly profit, hurt partly by lower revenue from its technology interoperability service, and tightened its full-year revenue outlook.

Shares of the Tampa, Florida-based company were down 6 percent at $16.21 in trading after the bell. They closed at $17.25 Monday on the New York Stock Exchange.

The company, which provides technology services to wireless telecommunications companies, earned $17.6 million, or 26 cents a share, compared with $25.5 million, or 37 cents a share, a year ago.

Excluding items, the company posted a cash net income of 41 cents a share.

Revenue fell 15 percent to $116.7 million.

Analysts were expecting 41 cents a share, excluding items, on revenue of $122.3 million, according to Thomson Reuters I/B/E/S.

Syniverse, whose customers include AT&T Inc (T.N), Telefonica (TEF.MC) and China Telecom (0728.HK), tightened its full-year revenue forecast to a range $466 million to $472 million from its previous projections of $460 million to $480 million.

Last quarter, it had warned that full-year revenue could be closer to the lower end of its forecast.

Revenue from its technology interoperability services fell 25 percent to $66.8 million.

Last week, Syniverse acquired VeriSign Inc's (VRSN.O) mobile messaging business. With the acquisition, Syniverse's messaging business will comprise about 30 percent of its revenue going forward, Chief Executive Tony Holcombe said in a statement. (Reporting by Manasi Phadke in Bangalore; Editing by Anil D'Silva)



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