NetScout Systems reported yet another disappointing quarter for its fiscal year 2018 fourth quarter. The company saw a decline in revenue across every customer segment, geographic territory, and product offering.

The company reported quarterly revenues of $235.2 million, a 27 percent year-over-year decline. It reported non-GAAP net income of $124.7 million resulting in earnings per share of $1.14.

NetScout also reported more downward guidance for fiscal year 2019, indicating that it expects its non-GAAP net income to range from a low single-digit decline to a low single-digit growth. It did note that it expects its product revenue to grow over the course of the year.

In both the first and third quarters of fiscal 2018, NetScout had to reduce its expectations, which led investors and analysts to be cautious about the company’s future. During the third-quarter earnings call, NetScout cited a decline in spending from a Tier-1 service provider and changes in the enterprise sales cycles as business undergo digital transformations.

The company also reported that revenue from service provider customers dropped 22 percent, compared to the previous year's fourth quarter. It attributed two thirds of this to the aforementioned service provider, rumored to be Verizon, decreasing its spending with NetScout. In addition, its enterprise customer segment revenue declined 10 percent over the year.

However, executives on the earnings call remained optimistic and said the company will look to its next-generation, software-based instrumentation and analytics products to drive future sales. NetScout CEO Anil Singhal noted that it plans to introduce new capabilities and offerings in this area to address the security needs of companies as they continue to move into the digital age.

Specifically, he pointed to increased interest in its workflow offerings and data center monitoring capabilities.

Investor Mike Arnold, writing for Seeking Alpha, also pointed to increasing competition in the service provider segment with particular regard to Radcom, which has won a number of large deals, including one with AT&T.

Arnold also showed concern over the company’s misguidance for the future. “My interpretation is that the company doesn’t really know how to guide for its service provider customers because the visibility for NetScout is quite foggy ahead of an accelerating 5G and NFV investment cycle,” he wrote.

Update: An earlier version of this article pointed to competition from Radware, it has been corrected to Radcom.