Sonus Networks Earnings: Here’s Why Investors are Happy Now
Sonus Networks, Inc. (NASDAQ:SONS) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.76%.
Sonus Networks, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $-0.02 in the quarter as EPS of $-0.02 in the year-earlier quarter.
Revenue: Decreased 1.62% to $63.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sonus Networks, Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.03. It beat the average revenue estimate of $61.12 million.
Quoting Management: “Sonus delivered solid first quarter results, highlighted by continued strong SBC revenue growth which increased 77% over the first quarter last year,” said Ray Dolan, president and chief executive officer. “Our results reflect consistent execution and position us for a strong year. In addition to delivering top-line growth, we remain focused on achieving profitability on a non-GAAP basis and generating cash from operations for the full year 2013.”
Key Stats (on next page)…