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To: MythMan who wrote (277046)	2/12/2004 10:43:25 AM
From: mishedlo	Respond to of 436258

Sonus Networks Provides Update on Status of Its Q4 and FY2003 Financial Results tinyurl.com 02/11/2004 21:30 Sonus Networks (Nasdaq: SONS) today provided additional information regarding the delay in reporting its fourth quarter and full fiscal year financial results for the year ended December 31, 2003. In connection with the year-end audit, Sonus Networks and its independent auditors have identified certain issues, practices and actions of certain employees relating to both the timing of revenue recognized from certain customer transactions and to certain other financial statement accounts, which may affect the Company's 2003 financial statements and possibly financial statements for prior periods. Â¶ The revenue issues identified relate to the proper timing of recognizing revenue from certain customer transactions, and not whether the sales can be recorded as revenue. For the customer transactions under review, the products have been delivered, customers are using the products in their networks and Sonus Networks has either received payment or is receiving payment for the products in the ordinary course. The Company is reassessing the proper periods in which revenue should be recognized for these transactions. Revenue or deferred revenue in periods previously reported could increase, decrease or remain unchanged in those periods as a result of this reassessment. Â¶ In response to the issues identified, the Company has taken the following steps: Â¶ -- The Company is performing a detailed review of the revenue timing issues and practices and of certain other financial statement accounts..... - tinyurl.com