Acme Packet Inc (APKT) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

Exhibit 99.1

 

 

Investor Relations:	Industry Analysts / Trade and Business Press:
Brian Norris	Liz Miller
Acme Packet	Connect2 Communications
+1 781-328-4790	+1 847-769-3075
bnorris@acmepacket.com	elizabeth@connect2comm.com

 

Acme Packet Reports Strong Results for Fourth Quarter of 2008

 

– Company Posts Revenues of $30.6 Million, an Increase of 8% Sequentially from Third Quarter of 2008 –

 

– Company Posts Non-GAAP(1) EPS of $0.09; Issues Business Outlook for 2009 –

 

BURLINGTON, MA. – February 5, 2009

— Acme Packet, Inc. (NASDAQ: APKT), the leader in session border control solutions, today announced results for the fourth quarter and year ended December 31, 2008.  The Company also issued its business outlook for 2009.  Summary financial results for the fourth quarter of 2008 are as follows:

 

·                  Revenues of $30.6 million, an increase of 8% sequentially from third quarter of 2008;

 

·                  Non-GAAP(1) EPS of $0.09, compared to $0.05 in the third quarter of 2008;

 

·                  Cash flow from operations of $7.0 million, compared to $2.5 million in the third quarter of 2008.

 

Results for the Fourth Quarter of 2008

 

Total revenues for the fourth quarter of 2008 were $30.6 million, compared to $31.4 million in the fourth quarter of last year and $28.4 million in the third quarter of 2008.  Net income for the fourth quarter of 2008 was $3.7 million, or $0.06 per share on a diluted basis, compared to $5.2 million, or $0.08 per share on a diluted basis, in the same period last year, and $2.0 million, or $0.03 per share on a diluted basis, in the third quarter of 2008.  Net income on a non-GAAP(1) basis for the fourth quarter of 2008 was $5.6 million, or $0.09 per share on a diluted basis, compared to $6.5 million, or $0.10 per share on a diluted basis, in the same period last year, and $3.4 million, or $0.05 per share on a diluted basis, in the third quarter of 2008.  Non-GAAP net income(1) differs from GAAP net income as it excludes stock-based compensation expense, net of tax, of approximately $1.9 million, or $0.03 per share, in the fourth quarter of 2008; approximately $1.3 million, or $0.02 per share, in the fourth quarter of 2007; and approximately $1.3 million, or $0.02 per share, in the third quarter of 2008.  A reconciliation of GAAP to non-GAAP(1) results is included at the end of this press release.