Sonus files reports delayed by options review
By MarketWatch
Last Update: 6:40 PM ET Aug 2, 2007
NEW YORK (MarketWatch) -- Sonus Networks Inc. (SONS : sonus networks inc com
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Last: 6.98-0.04-0.57%
10:06am 08/03/2007
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SONS6.98, -0.04, -0.6%) filed its delayed 2006 and first-quarter 2007 reports Thursday, reporting a quarterly net loss of $3.98 million, or 2 cents a share, swinging from net income of $5.82 million, or 2 cents a share, a year earlier.
The Westford, Mass., provider of voice-over Internet protocol infrastructure had delayed the reports due to its review of past option grants. The company said it found dating errors in grants from May 2000 through 2005, and decreased net income for those periods by $55 million to correct the errors.
Sonus Networks said it believes it became current with Nasdaq listing requirements after filing the delayed reports, but it's awaiting confirmation from the exchange.
The company reported revenue during the first quarter ended March 31 of $71.15 million, compared with $60 million in the year-earlier quarter, according to the report filed with the Securities and Exchange Commission.
Net income during 2006 was $102.85 million, or 40 cents a share, compared with 2005 net income of $4.79 million, or 2 cents.
Revenue in 2006 totaled $279.48 million, up from $195.36 million in 2005. Shares of Sonus Networks closed Thursday at $7.02, up 27 cents. |
