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News >> Technology >>
Sonus posts $14.6 M adjusted net loss
By siliconindia
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Friday, 11 October 2002, 19:30 IST
WESTFORD: Sonus Networks, Inc. (Nasdaq: SONS) posted third quarter revenues of $7.4 million compared with $40.3 million in the same period last year. The results were consistent with the revised business outlook issued by the company last month.
Adjusted net loss for the third quarter of fiscal 2002 was $14.6 million or $0.08 per share compared with an adjusted net loss for the third quarter of fiscal 2001 of $11.4 million or $0.06 per share. Actual net loss for the third quarter of fiscal 2002 was $21.6 million or $0.11 per share compared with an actual net loss for the third quarter of fiscal 2001 of $498.2 million or $2.81 per share.
Revenues for the first nine months of fiscal 2002 were $49.9 million compared with $134.3 million in the same period last year. Adjusted net loss for the first nine months of fiscal 2002 was $37.9 million or $0.20 per share compared with an adjusted net loss for the first nine months of fiscal 2001 of $10.1 million or $0.06 per share. Actual net loss for the first nine months of fiscal 2002 was $55.7 million or $0.30 per share compared with an actual net loss for the first nine months of fiscal 2001 of $632.0 million or $3.71 per share.
This continues to be a challenging period for the telecommunications industry, and that certainly has impacted our financial results for the quarter, said Hassan Ahmed, president and CEO, Sonus Networks. During these times, we remain keenly focused on the priorities that we laid out at the beginning of the year building our customer base, developing industry-leading technologies and preserving our financial strength. Our leading products and customer support capabilities give us a strong competitive position, and we have continued to add important new customers each quarter.
Sonus further expanded its customer base in the third quarter, announcing a deployment with Deutsche Telekoms T-Systems International division. T-Systems has chosen Sonus to build out its next-generation voice over IP (VoIP) network to provide large multinational customers with enhanced voice services, such as global voice VPN (virtual private network) and sophisticated call center routing facilities.
Sonus continued to develop new industry partnerships through the Open Services Partner AllianceSM (OSPA), broadening Sonus solutions offerings for enhanced services, access solutions and QoS management. New partners joining the OSPA during the quarter include InnoMedia, Personeta, Psytechnics, SkyWave, Terayon and Unisys.
Sonus also announced that for the eighth consecutive quarter, the company has been ranked the leading provider of carrier-class packet voice equipment. Respected industry research firms In-Stat/MDR, Infonetics Research and Synergy Research Group issued Q2 2002 market share reports naming Sonus the industry leader in key packet voice market segments.