Veraz Networks' Big Miss

Wow, now that’s what I call a miss. Veraz Networks (VRAZ) this morning said Q2 revenue totaled $15 million to $17 million, roughly half of the Street consensus estimate of $30 million. The company says it was hurt by “a challenging business environment,” with several deals deferred to the second half of the year. Veraz, which voice over IP gateways and related products, said it believes it will return to sequential revenue growth. Veraz will report detailed results for the quarter in August 6.

This has become something of a habit at Veraz. In February, when Veraz reported fourth quarter results, the stock tumbled on a disappointing 2008 outlook. One quarter later, the stock was whacked again, this time on disappointing Q1 results, and the disclosure that the company was being investigated by the SEC for reasons it did not disclose.

Today, Veraz is down 40 cents, or 25.6%, to $1.16, a new 52-week low. For the year, the stock is now down 76%.