SONUS NETWORKS REPORTS
2011 FIRST QUARTER RESULTS
Westford, MA, May 3, 2011 - Sonus Networks, Inc. (NASDAQ:SONS, news, filings), a market leader in next generation IP-based network solutions, today announced results for the quarter ended March 31, 2011 and plans for participation in upcoming financial conferences.
Revenue for the first quarter of fiscal 2011 was $67.3 million, compared to $83.0 million in the fourth quarter of fiscal 2010 and $62.4 million in the first quarter of fiscal 2010. The Company's net loss for the first quarter of fiscal 2011 was $12.4 million, or $0.04 per share, compared to net income of $11.4 million, or $0.04 per diluted share, for the fourth quarter of fiscal 2010 and a net loss of $0.1 million, or $0.00 per share, for the first quarter of fiscal 2010.
"I am pleased with the progress made by the team toward our annual goals, as we lay the foundation for our future," said Ray Dolan, President and Chief Executive Officer of Sonus Networks. "We have focused on building the team, establishing channel partnerships, and expanding our NBS business. These are important investments that we believe will drive sustained growth and innovation at Sonus."
Participation in upcoming financial conferences:
Sonus executives will participate in the following upcoming investor conferences, with presentations scheduled as follows:
Jefferies Global Technology, Internet, Media & Telecom Technology Conference
Thursday, May 12, 2011 at 11:10 a.m. ET
Barclays Capital 2011 GMT Conference
Wednesday, May 25, 2011 at 11:15 a.m. ET
Both presentations will be available via webcast. Please visit the Investor Relations section of our website for more information.
Earnings Conference Call Details:
Sonus Networks will host a conference call for analysts and investors to discuss its first quarter 2011 results as well as certain forward-looking information today at 4:45 p.m. ET.
To listen live via telephone:
Dial-in number: 800-926-9175
International Callers: +1 212-231-2900
To listen via internet:
Sonus Networks will host a live webcast of the conference call. To access the webcast, visit www.sonusnet.com, About Us, Investor Relations.
About Sonus Networks
Sonus Networks, Inc. is a leader in IP networking with proven expertise in delivering secure, reliable and scalable next generation infrastructure and subscriber solutions. With customers in over 50 countries across the globe and over a decade of experience in transforming networks to IP, Sonus has enabled service providers and enterprises to capture and retain users and generate significant ROI. Sonus products include media and signaling gateways, policy/routing servers, session border controllers and subscriber feature servers. Sonus products are supported by a global services team with experience in design, deployment and maintenance of some of the world's largest and most complex IP networks. For more information, visit www.sonusnet.com.
Important Information Regarding Forward-Looking Statements
This release may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act) 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. Readers are referred to Item 1A "Risk Factors" included in Sonus' Annual Report on Form 10-K for the year ended December 31, 2010 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. 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: