Monday, March 14, 2005

Sonus Reports Quarterly Revenue of $45 Million

Sonus Networks reported Q4 revenue of $45.1 million compared with $46.4 million in the same period last year, a decrease of 3%. Net income for Q4 was $6.3 million or $0.02 per diluted share, compared with net income for Q4 of fiscal 2003 of $6.9 million, or $0.03 per diluted share.

Revenues for fiscal year 2004 were $170.7 million compared with $93.2 million for fiscal year 2003, an increase of 83%. Net income for fiscal year 2004 was $24.5 million, or $0.10 per diluted share, compared with a net loss for fiscal year 2003 of $15.1 million, or $0.07 per diluted share.

"Our 2004 financial results represent record performance by our team around the world. Revenue grew 83%, we were profitable on an annual basis, and we generated positive cash flow," said Hassan Ahmed, chairman and CEO, Sonus Networks. "As we continue to focus on growing the company, we are equally focused on improving our financial controls and infrastructure. We are pleased to have timely filed our Form 10-K for 2004 and to have completed the assessment of internal control over financial reporting under the new Sarbanes-Oxley 404 requirements."


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