Acme Packet Reports Results for Fourth Quarter of 2011
Fourth Quarter Revenues of $83.0 Million, Up 18% Year-Over-Year; Revenues of $307.3 Million in 2011, Up 33% Over 2010
(firmenpresse) - BEDFORD, MA -- (Marketwire) -- 02/02/12 -- Acme Packet, Inc. (NASDAQ: APKT), the leader in session delivery network solutions, today announced results for the fourth quarter and full year ended December 31, 2011. All earnings per share results are on a fully diluted basis.
Total revenue for the fourth quarter of 2011 was $83.0 million, an increase of 18% compared to $70.2 million in the fourth quarter of 2010 and an increase of 18% compared to $70.6 million in the third quarter of 2011. Net income for the fourth quarter of 2011 was $8.7 million, or $0.12 per share, compared to $14.5 million, or $0.21 per share, in the fourth quarter of 2010 and $7.9 million, or $0.11 per share, in the third quarter of 2011. Net income on a non-GAAP(1) basis for the fourth quarter of 2011 was $18.3 million, or $0.26 per share, compared to $18.1 million, or $0.26 per share, in the fourth quarter of 2010, and $14.6 million, or $0.21 per share, in the third quarter of 2011.
Total revenue in 2011 was $307.3 million, an increase of 33% compared to $231.2 million in 2010. Net income in 2011 was $44.4 million, or $0.63 per share, compared to $43.0 million, or $0.63 per share, in 2010. Net income on a non-GAAP(1) basis in 2011 was $72.3 million, or $1.02 per share, compared to $55.0 million, or $0.81 per share, in the same period last year.
The Company's management team plans to host a live conference call and webcast at 4:30 p.m. eastern time today to discuss the financial results as well as management's outlook for the business. The conference call may be accessed in the United States by dialing 1.800.230.1059 and using access code "APKT". The conference call may be accessed outside of the United States by dialing +1.612.234.9959 and using access code "APKT". The conference call will be simultaneously webcast on the Company's investor relations website, which can be accessed at . A replay of the conference call will be available approximately two hours after the call by dialing 1.800.475.6701 or +1.320.365.3844 and using access code 234067 or by accessing the webcast replay on the Company's investor relations website.
(1) A reconciliation of GAAP to non-GAAP results, and a statement on the use of non-GAAP financial measures, is included at the end of this press release.
Acme Packet (NASDAQ: APKT), the leader in session delivery network solutions, enables the trusted, first-class delivery of next-generation voice, data and unified communications services and applications across IP networks. Our Net-Net product family fulfills demanding security, service assurance and regulatory requirements in service provider, enterprise and contact center networks. Based in Bedford, Massachusetts, Acme Packet designs and manufactures its products in the USA, selling them through over 220 reseller partners worldwide. More than 1,600 customers in 107 countries have deployed over 16,000 Acme Packet systems, including 88 of the top 100 service providers and 41 of the Fortune 100. For more information visit .
Statements contained herein that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate to, among other things, expected financial and operating results, expected growth rates, future stock-based compensation and amortization expenses, future business prospects and market conditions. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those anticipated. These include, but are not limited to: the amount of stock-based compensation awarded; the applicable Company stock price used to determine stock-based compensation; the exercise pattern of employee stock options; difficulties expanding the Company's customer base; difficulties leveraging market opportunities; difficulties providing solutions that meet the needs of customers; poor product sales; long sales cycles; difficulties developing new products; difficulties in relationships with vendors and partners; higher risks in international operations; difficulties managing rapid growth; difficulties managing the Company's financial performance; the ability to hire and retain employees and appropriately staff operations; the Company's cash needs; the impact of new accounting pronouncements and increased competition. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in the Company's recent filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings.
Statement on Use of Non-GAAP Financial Measures:
To supplement its condensed consolidated financial statements presented in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company discloses certain non-GAAP financial measures, including "non-GAAP net income", "net income on a non-GAAP basis", "non-GAAP net income per share", "non-GAAP EPS", "net income per share on a non-GAAP basis" and "non-GAAP EPS growth rate". These non-GAAP financial measures are not presented in accordance with GAAP and are not meant to be a substitute for the most directly comparable GAAP measures of "net income", "EPS", "GAAP EPS growth rate" or "net income per share". Rather, these non-GAAP financial measures should be evaluated in conjunction with its most directly comparable GAAP financial measure and the Company's financial statements as a whole.
Management uses these supplemental non-GAAP financial measures to evaluate performance period over period, to analyze the underlying trends in the Company's business, to assess its performance relative to its competitors, and to establish operational goals and forecasts that are used in allocating resources. Management uses these non-GAAP financial measures because they exclude stock-based compensation expense which is a non-cash charge and related payroll taxes, amortization of acquired intangible assets and merger and integration-related costs associated with the Company's acquisition activities all of which are non-operational costs and expenses. By excluding stock-based compensation expense and related payroll taxes, amortization of acquired intangible assets, and merger and integration-related costs, management can compare the Company's operations to prior periods and to the operations of other companies in its industry who may have materially different unusual, non-operational charges. Management does not consider any of stock-based compensation expense and related payroll taxes, amortization of acquired intangible assets, and merger and integration-related costs to be part of the Company's operating activities or meaningful in evaluating the Company's past financial performance or future prospects. Management believes that excluding these items is useful to investors because it is more representative of ongoing costs and therefore more comparable to historical operations.
Because management uses them, management believes that the disclosure of these non-GAAP financial measures to investors provides greater transparency and useful information to help the investor better understand the Company's operating performance and to evaluate the methodology used by management to evaluate and measure such performance. Notwithstanding their utility to investors in understanding operational trends, these non-GAAP measures should not be considered measures of the Company's liquidity. In addition, the Company cautions that its definition of "non-GAAP net income", "non-GAAP EPS" and "non-GAAP net income per share" may differ from similar measures used by other companies and may differ from period to period. Also, in future periods, management may make other adjustments for expenses and gains that it does not consider reflective of core operating performance in a particular period thereby modifying its definition of "non-GAAP net income", "non-GAAP EPS" and "non-GAAP net income per share" by excluding these other or additional expenses and gains.
Reconciliation of GAAP to Non-GAAP Financial Measures for the Three and Twelve Months Ended December 31, 2011 and December 31, 2010 and the Three Months Ended September 30, 2011:
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Datum: 02.02.2012 - 21:05 Uhr
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