Monday, October 6, 2008

Sonus Networks Warns on Significant Revenue Decline

Sonus Networks expects to report a significant decrease in year-over-year revenue for the quarter ended September 30, 2008. The company further expects that its year-over-year revenue for the full year 2008 will decrease from the full year 2007.

Sonus Networks said it continues to maintain a solid financial base, ending the third quarter with no debt and with cash, cash equivalents, marketable securities and long-term investments totaling more than $400 million, up from approximately $398 million at the end of the second quarter 2008.

"We are disappointed with our expected revenue for the third quarter and the second half of 2008," said Richard Nottenburg, president and CEO of Sonus Networks. "Our business experienced weakness toward the end of the quarter, due to several factors including the challenging environment. We expect this to continue for the foreseeable future."