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Comverse Plunges as Business Slows, Filings Delayed

August 15, 2008
by Tiernan Ray
Blogger, Barron's, Tech Trader Daily

Tiernan Ray

Shares of telecom software provider Comverse Technology are plunging today, down over 20 percent, or $3.42, at $13.50, after the company last night filed a form 8-K with the Securities and Exchange Commission that indicates … business is slowing. The company said in its filings that “slower momentum, in particular at Netcentrex, along with some delayed purchasing decisions in the core business … along with the foreign exchange headwinds relating to expenses we have experienced, has put pressure on our business performance.” Comverse bought Paris-based Netcentrex in April 2006 for $164 million in cash. The product is a telephone switch for transmitting phone calls over the Internet.

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