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TMCNet:  Sonus Networks Posts 2012 3rd Quarter Results

[November 12, 2012]

Sonus Networks Posts 2012 3rd Quarter Results

Nov 13, 2012 (Close-Up Media via COMTEX) -- Sonus Networks, Inc., a provider of SIP communications, announced results for the third quarter ended September 28.

According to a release, results are reported on a consolidated basis and include the partial quarter financial effect of Network Equipment Technologies, Inc. (NET), an acquisition which closed on August 24.

Third Quarter Consolidated 2012 Highlights (including NET) -Total revenue was $57.0 million.

-Total SBC revenue, including maintenance and services, was $25.4 million, compared to $19.1 million in the second quarter of 2012 and $13.9 million in the third quarter of 2011.

-SBC product revenue was $20.4 million, compared to $13.5 million in the second quarter of 2012 and $10.4 million in the third quarter of 2011.

-SBC product revenue was a record 61 percent of total product revenue.


-Won 40 new customers in the quarter, 11 for Sonus and 29 for NET (post-acquisition).

-Sonus SBC 5100 and Sonus SBC 5200 Certified in Microsoft's Unified Communications Open Interoperability Program for Microsoft Lync Server 2010; together with Sonus SBC 1000 and Sonus SBC 2000 represents the largest portfolio of MS Lync certified SBCs on the market.

Revenue for the third quarter of fiscal 2012 was $57.0 million, compared to $57.6 million in the second quarter of fiscal 2012 and $66.4 million in the third quarter of fiscal 2011. The GAAP net loss for the third quarter of fiscal 2012 was $15.6 million, or $0.06 per share, compared to a GAAP net loss of $11.7 million, or $0.04 per share, in the second quarter of 2012 and GAAP net income of $1.9 million, or $0.01 per diluted share, in the third quarter of fiscal 2011. The non-GAAP net loss for the third quarter of fiscal 2012 was $6.3 million, or $0.02 per share, compared to a non-GAAP net loss of $8.6 million, or $0.03 per share, in the second quarter of fiscal 2012 and non-GAAP net income of $4.1 million, or $0.01 per diluted share, in the third quarter of fiscal 2011.

The Company's outlook is based on current indications for its business, which may change during the current quarter. All figures are non-GAAP and include the partial quarter effect of NET in the third quarter of 2012 and the anticipated full quarter effect of NET in the fourth quarter of 2012.

Fourth Quarter 2012 Current Guidance Total Revenue $77 to $81 million SBC Total Revenue $25 to $26 million SBC Product Revenue $21 to $22 million NET Total Revenue (incl. in Total Revenue) NET SBC Total Revenue (incl. in SBC Total Revenue) $10 million $4 million Gross Margin 58 percent Operating Expenses $44 to $45 million Diluted EPS $0.00 to $0.01 Cash & Investments $270 million Diluted shares 282 million Full Year 2012 Current Guidance Total Revenue $256 to $260 million SBC Total Revenue $87 to $88 million SBC Product Revenue $68 to $69 million NET Total Revenue (incl. in Total Revenue) NET SBC Total Revenue (incl. in SBC Total Revenue) $17 million $6 million Gross Margin 60 percent Operating Expenses $170 to $171 million Basic EPS $(0.06) to $(0.07) Cash & Investments $270 million Diluted shares 280 million More company information: www.sonus.net ((Comments on this story may be sent to newsdesk@closeupmedia.com))

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