Packeteer (PKTR) reported earnings recently. It was a put-up-or-shut-up quarter for CEO Dave Cote, and he put up. Packeteer beat the consensus expectation for $38 million and breakeven, reporting $40.9 million in revenues, up 12% from the September quarter, and one cent in proforma earnings. Elliot Associates, the large dissident shareholder that wants the company sold, probably will not be happy, but Dave has earned himself another quarter to get this train moving.

In the press release, Dave said: "We turned the corner in the third quarter, and in the fourth quarter have continued our improvement with a sequential increase in revenue of 12%, resulting in the second largest revenue quarter in our history. In addition, we were gratified to produce another quarter of improving non-GAAP operating income. Our outlook for 2008 is very positive. We expect to accelerate our revenue growth and return to profitability in 2008." Sounds great to me.