Not sure that anything major did come from the perspective of...

Not sure that anything major did come from the perspective of the released numbers, with the exception of a number of one-off charges and a few non-cash items which impacted the results. Underlying EBIT results were good - definitely don't seem to warrant a 30% drop. There are concerns expressed about the SME segment but the more profitable Enterprise segment is enjoying strong growth. The presentation also mentioned a significant customer is decreasing their business with ARQ due to product range simplification (this sounded like it could be Telstra?). None of this is too surprising from a company in the midst of growth.

We will get a better idea of how the market views these result over the next weeks and months. To me though the company looks like that rare beast: a growth company paying healthy dividends.