WOODBURY, N.Y.-Comverse Technology Inc. reported solid fourth-quarter results with a return to profitability and a hopeful outlook, but investors seemed relatively unmoved and sent the company’s stock down slightly after the news to about $18.26 per share.
Comverse reported sales of $203 million for the fourth quarter, up from the $176 million a year ago. The company scored net income of $4.9 million in the quarter compared with a net loss of $30 million in the same quarter a year ago.
“Comverse, our network systems division, benefited from an improved carrier capital spending environment, and saw increased activity for its products which enable call answering, messaging and other wireless data applications, and real-time billing,” said Kobi Alexander, the company’s chairman and chief executive officer.
