Sonus Networks Reports Third Quarter 2009 Financial Results
WESTFORD, Mass., November 5, 2009 - Sonus Networks, Inc. (Nasdaq: SONS), providing network transformation through IP communications technology, today announced results for the third quarter ended September 30, 2009.
Revenue for the third quarter of fiscal 2009 was $56.2 million, compared to $61.6 million in the second quarter of fiscal 2009 and revenue from continuing operations of $62.2 million for the third quarter of fiscal 2008. The Company's net loss on a GAAP basis was $3.4 million, or $0.01 per share, for the third quarter of 2009, compared to net income of $4.4 million, or $0.02 per diluted share, for the second quarter of 2009, and a loss from continuing operations of $20.7 million, or $0.08 per share, for the third quarter of 2008. The Company ended the quarter with cash, cash equivalents, marketable securities and investments totaling $394.2 million.
"During the third quarter we completed our restructuring initiatives which started in the second half of 2008," said Richard Nottenburg, president and chief executive officer of Sonus Networks. "We continue to focus on investing in new products and service offerings bringing innovative solutions to the market."
Conference Call Details:
Date: Monday, November 9, 2009
Time: 4:15 p.m. ET.
To listen live via telephone:
Dial-in number: 800-734-8583
International Callers: +1 212-231-2906.
To listen via internet
Sonus will host a live webcast of the conference call. To access the webcast, visit www.sonusnet.com, About Us, Investor Relations.
Replay
A telephone playback of the call will be available following the conference and can be accessed by calling 800-633-8284 or for international callers, please call +1 402-977-9140 The reservation number for the replay is 21441087 and will be available until November 23, 2009.
A replay of the webcast will be also available on the Sonus Networks Investor Relations website. To access the replay of the webcast, visit www.sonusnet.com, About Us, Investor Relations, Webcast Archive.
About Sonus Networks
Sonus Networks, Inc., providing network transformation through IP communications technology, is leading the evolution of communications networks to support the multi-device demands of today's digital lifestyle. Sonus solutions and services enable fixed, mobile and cable operators to gain network awareness and new multi-media capabilities essential to retaining and expanding their subscriber base. Through standards-based interoperable solutions and services, Sonus extends the investments made in traditional networks by enabling operators to seamlessly migrate to next generation technology and deliver the secure, reliable, scalable and cost-effective network needed to grow their business. For more information, visit www.sonusnet.com.
This release may contain forward-looking statements regarding future events that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009. Risk factors include, among others: our ability to align our cost structure with market conditions, our internal control over financial reporting and our ability to report our financial results timely and accurately; the unpredictability of our quarterly financial results; risks and uncertainties associated with the Company's previous restatement of its historical stock option granting practices and accounting, including regulatory actions; actions that may be taken by significant shareholders; risks associated with the right-sizing and re-alignment of our business; and the impact the current global financial market conditions may have on the telecommunications industry. Any forward-looking statements represent Sonus' views only as of today and should not be relied upon as representing Sonus' views as of any subsequent date. While Sonus may elect to update forward-looking statements at some point, Sonus specifically disclaims any obligation to do so, except as required by law.
Sonus is a registered trademark of Sonus Networks, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
For more information, please contact:
Lucy Millington:
Sonus Networks
978-614-8240
lmillington@sonusnet.com
Beth Panfil:
Sonus Networks
978-614-8034
bpanfil@sonusnet.com