While some areas of the telecom equipment industry are suffering in the difficult economic climate, the session border controller market does not appear to be one of them. Market share leader Acme Packet raised its guidance again for the year and reported record revenue of $32.9 million for the quarter, which was up 6 percent from Q1. The company's GAAP net income fell to $1.7 million, however, down from $2.8 million in the first quarter.
The company raised its full-year revenue outlook to $130 million to $134 million, up from previous guidance of $128 million to $134 million. Acme Packet also showed a strong balance sheet, as it generated $14.7 million in cash from operations during the quarter and ended Q2 with $155 million in cash and cash equivalents.
The company purchased Covergence in April, adding an additional lower cost SBC product in the process. Will Acme Packet whip out the checkbook again in Q3 with the cash store it has?
For more:
- see the press release here
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