Sonus Sees Revenues Decline 18% YoY to $62 Million

Sonus Networks reported Q3 revenue of $62.2 million, compared to $87.8 million in the second quarter of fiscal 2008 and $75.8 million for the third quarter of fiscal 2007, a decrease of 18% year over year. The company's loss from continuing operations on a GAAP basis was $19.0 million, or $0.07 per share, for the third quarter of 2008, compared to GAAP income from continuing operations of $3.5 million, or $0.01 per diluted share, for the second quarter of 2008, and a GAAP loss from continuing operations of $26.6 million, or $0.10 per share, for the third quarter of 2007.


"We had a challenging quarter, and are disappointed with our results," said Richard Nottenburg, president and CEO of Sonus Networks. "We experienced a downturn during September that impacted our revenue and earnings performance. We have maintained a strong cash position and a stable financial platform which allow us to focus on managing the business through the current economic climate."http://www.sonusnet.com