Sonus Networks Reports Second Quarter 2009 Financial Results
WESTFORD, Mass., July 30 /PRNewswire-FirstCall/ -- Sonus Networks, Inc. (Nasdaq: SONS), providing network transformation through IP communications technology, today announced results for the second quarter ended June 30, 2009.
Revenue for the second quarter of fiscal 2009 was $61.6 million, compared to $41.0 million in the first quarter of fiscal 2009 and revenue from continuing operations of $87.8 million for the second quarter of fiscal 2008. The Company's net income on a GAAP basis was $4.4 million, or $0.02 per share, for the second quarter of 2009, compared to a loss of $16.2 million, or $0.06 per share, for the first quarter of 2009, and income from continuing operations of $3.3 million, or $0.01 per share, for the second quarter of 2008. The Company ended the quarter with cash, cash equivalents, marketable securities and investments totaling $387.4 million.
"We made progress in the second quarter," said Richard Nottenburg, president and chief executive officer of Sonus Networks. "The cost and realignment actions we initiated in the second half of 2008, combined with improving efficiency in our operations, helped us achieve profitability in the second quarter. While there is still much to do, we are laying the groundwork for positive operating leverage once we return to a more normal economic environment. We believe the strength of our balance sheet provides us with the stability and resources we need to achieve our plan."
Conference Call Details:
Sonus Networks will host a conference call for analysts and investors to discuss its second quarter 2009 results today at 10:00 a.m. ET.
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