Monday, November 7, 2005

Sonus Quarterly Revenue Falls to $45.7 Million

Sonus Networks reported Q3 revenues of $45.7 million compared with $58.1 million in the second quarter of fiscal 2005 and $46.8 million for the third quarter of fiscal 2004. Net loss for the third quarter of fiscal 2005 was $2.7 million or $0.01 per diluted share compared with net income of $9.7 million or $0.04 per diluted share for the second quarter of fiscal 2005, and compared with net income of $10.3 million or $0.04 per diluted share for the third quarter of fiscal 2004.


Third quarter revenue and earnings per share were lowered by $4.7 million and approximately 2 cents per diluted share respectively, as a consequence of the accounting treatment required for the renegotiation of certain customers' bundled maintenance and support arrangements in the quarter. This revenue will be recognized in subsequent periods as service revenue.


"While our reported financial results were lowered by the deferral of revenue related to two of our Tier 1 customers based on our accounting policies, our business in the third quarter expanded in several important ways," said Hassan Ahmed, chairman and CEO, Sonus Networks.
http://www.sonusnet.com

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