Sonus Networks Inc. (NASDAQ:SONS) reported its results for the third quarter. Sonus Networks is a provider of voice infrastructure solutions for wireline and wireless service providers.
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Sonus Networks Inc. Earnings Cheat Sheet
Results: Reported a loss of $15.6 million (6 cents per diluted share) in the quarter. Sonus Networks Inc. had a net income of $1.9 million or one cent per share in the year-earlier quarter.
Revenue: Fell 14% to $57 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sonus Networks Inc. reported an adjusted net loss of 2 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 4 cents per share. It fell short of the average revenue estimate of $58.4 million.
Quoting Management: “Sonus proved this quarter that our SBC growth engine is continuing to grow faster than the market. We continue to compete very effectively and grow our market share,” said Ray Dolan, President and Chief Executive Officer. “This continued momentum will enable us to more rapidly transition our business from legacy Media Gateway toward a profitable SBC growth company.”
The company topped expectations last quarter after falling short of forecasts in the second quarter with a loss of 4 cents versus a mean estimate of a loss of 3 cents per share.
Over the last five quarters, revenue has increased 7.5% on average year-over-year. The biggest increase came in the third quarter of the last fiscal year, when revenue rose 55.3% from the year-earlier quarter.
Looking Forward: The average estimate for the fourth quarter is steady at 3 cents a share. For the fiscal year, the average estimate has moved from a loss of 8 cents a share to a loss of 7 cents over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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