Earnings - 3rd July 2008

6:47AM Acme Packet issues Q2 downside guidance (APKT) 7.78 : Co issues downside guidance, sees Q2 EPS of $0.02-0.04, excluding non-recurring items, vs $0.09 consensus; sees revs of $24.5-25.5 mln vs $33.6 mln consensus. "Our top line results were adversely impacted by two specific factors. First, there were a number of transactions that unfortunately did not close on the schedule that we had forecasted together with various customers. We do not believe that any of these opportunities were lost to competitors and we expect these transactions will close in this calendar year. Second, we shipped a relatively high volume of product in the last several days of the quarter which we were unable to recognize in the second quarter due to time-based acceptance criteria with various customers. While we are not prepared to comment on our full year outlook at this time, we are clearly targeting a return to sequential revenue growth in the third quarter."