Packeteer Reports Q1 Prelims

Expects to report disappointing revenues for Q1; estimates indicate revenues of between $31M and $33M, a sequential decrease of 25%

April 5, 2007

1 Min Read
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CUPERTINO, Calif. -- Packeteer, Inc. (Nasdaq: PKTR - News), the global leader in high-performance, intelligent WAN Application Delivery, today announced preliminary revenue results for the quarter ended March 31, 2007.

Based on preliminary financial information, the Company expects to report disappointing net revenues for the first quarter 2007. Current estimates indicate revenues of between $31 million and $33 million, which would reflect a sequential decrease of approximately 25% from the fourth quarter 2006. The Company had previously provided guidance for the first quarter of flat to slightly higher revenues compared with those reported in the fourth quarter 2006. First quarter results are preliminary and thus are subject to the Company's management and independent registered public accounting firm completing their quarterly review procedures.

"These preliminary revenue results are very disappointing," said Dave Cote, president and CEO of Packeteer. "While they will also have a significant impact on our bottom line results for the first quarter, we remain optimistic about our long-term business opportunities. We plan to share more analysis during our first quarter 2007 financial conference call when we will address the first quarter revenue shortfall as well as our plans to adjust our operating plans."

The Company also announced that Arturo Cazares has resigned as Vice- President, Worldwide Sales after slightly more than three years at Packeteer. The Company has retained an executive recruiting firm to begin the search for his successor. Dave Cote, the Company's Chief Executive Officer, will assume responsibility for the management of the Company's sales organization until a replacement has been hired.

Packeteer Inc.

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