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Strategies & Market Trends : YEEHAW CANDIDATES

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To: Galirayo who wrote (20100)11/6/2006 4:19:06 PM
From: ACAN   of 23958
 
Ray; [SONS]

Sonus Achieves Record Quarter with Strong Revenue Growth; Company Provides Update on Voluntary Review of Historical Stock Option Grant Practices

CHELMSFORD, Mass., Nov. 6 /PRNewswire-FirstCall/ -- Sonus Networks, Inc. (Nasdaq: SONS - News), a leading supplier of service provider Voice over IP (VoIP) infrastructure solutions, today reported its revenue results for the third quarter ended September 30, 2006. The Company also reported that its Audit Committee has completed the previously announced voluntary review of the Company's practices with respect to historical employee stock option grants since its Initial Public Offering (IPO) and, based on its preliminary evaluation of the accounting impact of this review, the Company has determined that it will restate its historical financial statements to make any necessary accounting adjustments.
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Revenues for the third quarter of fiscal 2006 were $75 million. Cash, cash equivalents and investments increased by $27 million during the third quarter of 2006 and by $21 million year-over-year to $346 million.

Allan
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