Arab Today, arab today sonus posts surprise loss in q2
Last Updated : GMT 08:27:29
Arab Today, arab today
Arab Today, arab today

Sonus posts surprise loss in Q2

Arab Today, arab today

Arab Today, arab today Sonus posts surprise loss in Q2

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Sonus Networks, which makes voice and data communication equipment, posted a surprise quarterly loss as longer deal cycles took its toll on gross margins, sending its shares down 8 per cent after market.“There were certain deals that we previously expected to recognize as revenue in the second quarter but were pushed to the third quarter because acceptance requirements were not completed in time,” Chief Financial Officer Wayne Pastore said on a conference call with analysts. Had these deals closed in the second quarter, product gross margins would have been about 70 per cent, Pastore said.Sonus, which counts AT&T and CenturyLink unit Qwest Communications among its top customers, saw product gross margins fall to 67.7 per cent from 70.9 per cent a year ago. The company, however, reiterated its full-year revenue forecast of $265-$285 million. “For t he foreseeable future we expect our business will continue to be lumpy due to the cyclical buying patterns and general large deal size s from our service provider customers ,” Chief Executive Ray Dolan said on a call with analysts.The company reported a net loss of $5.9 million, or 2 cents a share in the second quarter, compared with income of $377,000, or break even, a year ago. From / Gulf Today

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