Sonus Networks Reports Steady Growth in Second Quarter

Sonus Networks, Inc., a providers network transformation through IP Communications technology, has released results for the second quarter ended June 30, reporting revenue of $61.6 million compared to $41.0 million in the first quarter.

 

Net income of Sonus Networks (News - Alert) on a GAAP basis is $4.4 million or $0.02 per share for the second quarter of 2009. In the first quarter of 2009, the company posted a loss of $16.2 million, or $0.06 per share, and income from continuing operations of $3.3 million, or $0.01 per share, for the second quarter of 2008. Sonus Networks ended the quarter with cash, cash equivalents, marketable securities and investments totaling $387.4 million.

 

According to Richard Nottenburg, president and CEO of Sonus Networks, the company made progress in the second quarter. The company achived profitability in the second quarter due to the cost and realignment actions initiated in the second half of 2008, combined with improving efficiency in their operations.

 

Nottenburge said Sonus Networks is laying the groundwork for positive operating leverage when they return to a more normal economic environment. He said that the strength of the company’s balance sheet provides it with the stability and resources required to achieve its plan.

 

The solutions and services from Sonus Networks help fixed, mobile and cable operators gain network awareness and new multi-media capabilities that is essential to retaining and expanding their subscriber base. At the same time, overall network operating costs are reduced. Sonus’ solutions transform voice networks into scalable, reliable and secure IP networks that generate real return on investment and deliver next-generation services. 

 

The customer base of Sonus includes long distance carriers, local exchange carriers, ISPs, wireless operators, cable operators and international telephone companies. Sonus Global Services helps network operators to transform their legacy networks, launch new revenue-generating services and optimize their networks for maximum efficiency. In addition to supporting customer’s networks, Sonus also provides technical support services.