The market
greeted the results of Acme Packet, Inc.(NASDAQ:APKT) and Coinstar,
Inc.(NASDAQ:CSTR ) by hammering down their stocks, both of which showed steep
declines.
Acme, the leader
in session delivery network solutions, reported a loss in the second quarter,
and its shares tanked 16 percent to $13.60 in pre-market session.
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Acme’s GAAP net
loss for the second quarter of 2012 was $0.1 million compared to GAAP net
income of $14.0 million, or 20 cents per share, in the second quarter of 2011.
Total revenue for the second quarter of 2012 was $67.6 million, compared to
$79.7 million in the second quarter of 2011, the company said.
In an earnings call with analysts later, CEO
Andrew D Ory attributed the poor showing to the slowdown in North America.
"The North
American service provider business continues to be impacted by an overall pause
in spending. Our original plan for 2012 assumes no growth from our top two
North American Tier 1 service provider customers. We now estimate that our
bookings for our top two North American Tier 1 service provider businesses will
be down approximately 25% in 2012."
Acme now sees adjusted per-share earnings between 43 cents
and 47 cents and revenue of $270 million to $275 million for the full year.
Owner of the
Redbox DVD kiosks Coinstar on Thursday reported a 38 percent rise in net profit
for the second quarter but its outlook for the year was below analyst
expectations, displeasing investors. In the quarter Coinstar’s income was $36.9
million, or $1.11 per share, up from $26.7 million, or 83 cents per share, a
year earlier. Analysts had forecast earnings at $1.18 a share. Revenue rose 22
percent to $532.2 million from $435.2 million, short of Wall Street's estimate
by $14.6 million.
Its shares
plunged $8.22, or nearly 13.88 percent, to $51 in pre-open session following
the release of the report.
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Last month
Coinstar completed a $100 million buyout of 6,200 DVR kiosks from NCR Corp,
saying that while this deal would reduce profit by 40 to 50 percent in 2012, it
would life profit next year.
Coinstar guided for a profit of $4.60 to $4.90
per share for the full year, below Wall Street estimate of $4.97 per share. Revenue
is seen between $2.21 billion and $2.31 billion in 2012, while analysts
forecast $2.29 billion.
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