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Sonus Networks Inc. (NASDAQ:SONS) reported its results for the second quarter. Sonus Networks is a provider of voice infrastructure solutions for wireline and wireless service providers.
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Sonus Networks Inc. Earnings Cheat Sheet
Results: Loss widened to $11.7 million (4 cents per diluted share) from $5.9 million (loss of 2 cents per share) in the same quarter a year earlier.
Revenue: Rose 11.3% to $57.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sonus Networks Inc. reported an adjusted net loss of 3 cents per share. By that measure, the company fell in line with the mean analyst estimate of a loss of 3 cents per share. Analysts were expecting revenue of $58.4 million.
Quoting Management: “Our team is effectively transforming Sonus, as evidenced by our strong SBC results this quarter, which exceeded our expectations,” said Ray Dolan, President and Chief Executive Officer. “Demand for our SBC solutions continues to grow, allowing us to reaffirm our SBC outlook for the year. Given the current environment, we are taking proactive cost reduction measures to ensure that Sonus has a business model which should accelerate our path to profitability while enabling us to continue to grow our SBC business,” Dolan continued. “We will continue to invest in SBC as we remain optimistic about our growth prospects, which are driven by a highly competitive portfolio of SBC products.”
Last quarter’s year-over-year revenue increase follows two quarters of revenue declines. Revenue fell 4.4% in the first quarter and fell 10.5% in the fourth quarter of the last fiscal year.
The company met estimates last quarter after topping forecasts in the previous quarter with a loss of -2 cents versus a mean estimate of a loss of 3 cents per share.
For the fiscal year, the average estimate has moved from a loss of 5 cents a share to a loss of 3 cents over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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