Comverse Tech. (CMVT) Delays Filing of Financial Statements; Comments on Slowing Q2 Momentum
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In a Form 8-K filed last night, Comverse Technology (OTC: CMVT) announced that it will delay the filing of its financial statements.
Additionally, in a letter to employees, Comverse's President and CEO, Andre Dahan, said, "Our recent business environment indicates slower momentum in the second quarter, in particular at Netcentrex, along with some delayed purchasing decisions in the core business. This slower momentum, along with the foreign exchange headwinds relating to expenses we have experienced, has put pressure on our business
performance. Despite the macroeconomic uncertainty, I am encouraged by the enthusiasm generated by our realignment and believe our strengthened organization, combined with our leading market position, should allow us to regain business momentum as we focus on winning throughout our disciplines.
Comverse Technology, Inc., through its subsidiary, Comverse, Inc., is a provider of software and systems enabling network-based multimedia enhanced communication and billing services.
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