Sonus Networks (SONS) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.08 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.03. The company posted revenue of $60.90 million in the period, compared to analysts expectations of $59.67 million. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.
Sonus Networks closed down -0.79 points or -8.42% at $8.59 with 10,82,484 shares getting traded on Thursday. Post opening the session at $8.67, the shares hit an intraday low of $8.47 and an intraday high of $8.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Feb 26, 2015, Peter Polizzi (VP, Global Services) sold 19,994 shares at $16.98 per share price. According to the SEC, on Feb 20, 2015, Mark T Greenquist (CFO) purchased 4,000 shares at $16.00 per share price.
Sonus Networks Inc. is a provider of networked solutions for telecommunications wireless and cable service providers and enterprises. Its products include session border controllers Session Initiation Protocol (SIP) session management servers Voice over IP (VoIP) switches SIP application servers multiprotocol signaling gateways and network analytics tools. Its solutions address the need for communications service providers and enterprises to seamlessly link and leverage multivendor multiprotocol communications systems and applications across their networks around the world and in a changing ecosystem of internet Protocol (IP)-enabled devices such as smartphones and tablets. Its solutions help its customers realize the intended value and benefits of Unified Communications (UC) platforms such as Microsoft Lync by enabling disparate communications environments commonplace in enterprises to work seamlessly together.