Sonus Networks (SONS) Tops Q3 EPS by 5c; Provides Mixed Outlook

Sonus Networks (NASDAQ: SONS) reported Q3 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $67.9 million versus the consensus estimate of $64.87 million.

Sonus Networks sees Q4 2015 EPS of $0.18-$0.21, versus the consensus of $0.22. Sonus Networks sees Q4 2015 revenue of $73-75 million, versus the consensus of $76.95 million.

Sonus Networks sees FY2015 EPS of ($0.05)-($0.08), versus the consensus of ($0.08). Sonus Networks sees FY2015 revenue of $246-248 million, versus the consensus of $246.6 million.

Ray Dolan, president and chief executive officer, commented, "We are pleased with our results for the third quarter and believe they demonstrate the continued progress we are making in our efforts to return to growth, further strengthen our customer relationships and improve Sonus' profitability. We reported three 10% customers, including AT&T, Inteliquent and CenturyLink. Our favorable product mix, combined with the impact of our cost reduction program, which we substantially completed in our second quarter, drove significant margin expansion, with non-GAAP gross margins reaching 70%."

"We are pleased with these improvements in the business as well as the strong level of bookings that we achieved in the quarter, which led to a healthy book-to-bill ratio and a good start to our fourth quarter. We are confident that Sonus' industry-leading technology and solutions are aligned with the technology strategies of our customers and provide an easy migration path to network functions virtualization and the evolving cloud architecture."

For earnings history and earnings-related data on Sonus Networks (SONS) click here.

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