Boston, MA 05/19/2014 (wallstreetpr) – Sonus Networks, Inc. (NASDAQ:SONS) has recently reported the results for the first quarter of the year 2014.
Results announced for Q1
Sonus Networks, Inc. (NASDAQ:SONS) recently announced the 2014 Q1 results as per which the total revenue of the company was reported to be $70.7 million. The total revenue increased by a fine 12% as compared to the first quarter of the last year. The total growth revenue was reported to be $34.3 million, which has also increased by a 14% as compared to the first quarter of the last year.
The gross margins GAAP were reported to be 65.6%, and the non-GAAP margins were reported to be 67.9%. The GAAP loss per share was reported to be $0.01 per share and the non-GAAP diluted earnings per share was reported to be $0.01.
Sonus Networks, Inc. (NASDAQ:SONS) also successfully acquired the Performance Technologies, which was in furtherance of the company’s strategies related to mobility and virtualization. The company has introduced a new product in the field of multimedia communications called the Sonus SBC 7000, which is a session border controller. Sonus Networks has also successfully reduced the concentration of its 22% shares to 7.5% in the hands of its largest shareholders by a well-planned share repurchase.
The Chief Executive Officer of the Sonus Networks, Ray Dolan, said that the company has started off with a solid beginning in the first quarter of the FY2014. As per him, the company has delivered great financial results and has stood by its innovative strategies and SBC related expansions. He also reported that the company has returned a large amount of capital to its shareholders through its share repurchases. The CEO believes that the growth opportunities for the company look stronger in this quarter than ever.
The Chief Financial Officer of Sonus Networks, Inc. (NASDAQ:SONS), Mark Greenquist, said that the company has executed a highly beneficial acquisition in this quarter on which the company spent approximately $34 million.
