WOODBURY, N.Y.-Network infrastructure and technology provider Comverse Technology Inc. reported sales of $194 million and a net loss of $3.4 million for its third quarter. The company’s stock was down slightly to $17.61 after the news.
The company’s sales were up, and its net loss was down compared with previous quarters.
“Each of our three major operating units achieved year-over-year revenue growth in the third quarter, and we once again generated positive operating cash flow,” said Kobi Alexander, Comverse’s chairman and chief executive officer. “Our two telecom-focused units; Comverse, our network systems division; and Ulticom, saw year-over-year sales growth, despite operating in a carrier-capital spending environment that continues to be challenging. Our Verint Systems division achieved record sales and earnings, due primarily to an expansion in its activities relating to digital security and surveillance.”
