Sonus Networks swings to Q2 profit; shares dip on revenue projection
Earlier this week, Sonus Networks, which makes equipment that is used in Internet Protocol (IP) networks, posted a profit of $126,000 in the second quarter.
Revenues for the second quarter of fiscal 2008 were $87.9 million, compared with $74 million in the first quarter of fiscal 2008 and $75.5 million in the second quarter of fiscal 2007, for an increase of 16 percent year-over-year.
Westford, Mass-based Sonus saw its shares dip yesterday after the company reduced its revenue growth estimates for this year. Sonus’ shares fell 16.7 percent, to close at $3.49 yesterday.
Sonus announced that its revenue growth for this year would not exceed the 10.5 percent growth it had previously posted in the first six months of the year. Sonus had previously forecast revenue growth of 20 percent.
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