22 Dec 2006
Comverse Technology posted sales of $410.6 million for its fiscal third quarter ended October 31. It closed the quarter with a 12-month orders backlog estimated at $706.3 million.
The company also ended the quarter with cash and cash equivalents, bank time deposits and short-term investments worth almost $1.9 billion and convertible debt of $419.6 million.
Comverse Technology is currently looking for ways to expand its addressable market opportunity across each of its business units through acquisitions. In the third quarter, it closed the acquisition of customer self-service leader Netonomy, strengthening the company's portfolio in real-time converged billing and customer care.