February 20, 2014
Sonus Networks Reports 2013 Fourth Quarter and Full Year Results
http://investors.sonusnet.com/releasedetail.cfm?ReleaseID=826970
Fourth Quarter 2013 Highlights
Total revenue was $76.2 million, up 1% compared to the fourth quarter of 2012. Total SBC revenue (including product, maintenance and services) was $41.6 million, reflecting growth of 59% compared to the fourth quarter of 2012. Represented 55% of total Company revenue and marks the first time total SBC revenue has represented more than half of the Company's total revenue in any quarter. SBC product revenue was $32.2 million, reflecting growth of 56% compared to fourth quarter of 2012. Represented 70% of total product revenue, a record high for the Company. GAAP gross margins were 63.5%; non-GAAP gross margins were 64.7% representing an increase of 570 basis points compared to non-GAAP gross margins in the fourth quarter of 2012. GAAP earnings per share was breakeven; non-GAAP diluted earnings per share was $0.02. Full Year 2013 Highlights
Total revenue was $276.7 million, up 9% compared to full year 2012. Total SBC revenue (including product, maintenance and services) was $129.9 million, reflecting growth of 48% over 2012. Represented 47% of total Company revenue. SBC product revenue was $97.4 million, reflecting growth of 44% over 2012. Represented 58% of total product revenue and marks the first time SBC product revenue has represented more than half of the Company's total product revenue for the full year. Enterprise sales contributed 27% of total product revenue. Channel sales contributed 20% of total product revenue. GAAP gross margins were 62.3%; non-GAAP gross margins were 63.6%, representing an increase of 360 basis points compared to non-GAAP gross margins in 2012. GAAP loss per share was $0.08; non-GAAP diluted earnings per share was $0.02. Announced stock buyback program to repurchase up to $100 million of the Company's common stock; executed approximately $59.3 million through December 31, 2013. Announced industry's first full-featured, unlimited scale software-based SBC. Successfully integrated the acquisition of Network Equipment Technologies, Inc. (NET), extending the Company's SBC product portfolio into the enterprise. Announced the acquisition of Performance Technologies, Inc. (PT) in December 2013; announced the successful closing of the transaction in February 2014. Acquisition expected to strengthen the Company's mobility and virtualization strategies. Added several prominent leaders to the Company's Board of Directors and management team.
Google Finance Charts...
View: Quarterly Data | Annual Data
Hide charts
&chco=0066FF%2CFF9900%2C990033&chds=-26.666666666666668%2C80%2C-26.666666666666668%2C80%2C-33.333333333333336%2C100&chxt=x%2Cx%2Cy%2Cr&chxl=0%3A%7C2012%7C2013%7C2013%7C2013%7C2013%7C1%3A%7CQ4%7CQ1%7CQ2%7CQ3%7CQ4%7C2%3A%7C-27%7C0%7C27%7C53%7C80%7C3%3A%7C-33%25%7C0%25%7C33%25%7C67%25%7C100%25&chd=t2%3A75.136002%2C63.287998%2C69.193001%2C68.098999%2C76.153%7C-16.386999%2C-13.748%2C-4.8699999%2C-3.773%2C0.27200001%7C-21.809786%2C-21.722918%2C-7.0382843%2C-5.540463%2C0.35717568)
&chco=0066FF%2CFF9900%2C990033&chds=-26.666666666666668%2C80%2C-26.666666666666668%2C80%2C-33.333333333333336%2C100&chxt=x%2Cx%2Cy%2Cr&chxl=0%3A%7C2012%7C2013%7C2013%7C2013%7C2013%7C1%3A%7CQ4%7CQ1%7CQ2%7CQ3%7CQ4%7C2%3A%7C-27%7C0%7C27%7C53%7C80%7C3%3A%7C-33%25%7C0%25%7C33%25%7C67%25%7C100%25&chd=t2%3A75.136002%2C63.287998%2C69.193001%2C68.098999%2C76.153%7C-15.749%2C-13.472%2C-4.6329999%2C-2.911%2C-0.059%7C-20.960657%2C-21.286816%2C-6.6957641%2C-4.2746592%2C-0.077475607) |
