Wednesday, May 11, 2005

Bad Q1 for Sonus Networks

Mark Evans - Mark Evans

For anyone looking for insight into what’s going on in the VOIP market, Sonus Networks Inc. did little to get people excited. The company, one of the few pure VOIP plays in the equipment market, said first-quarter revenue fell 25% to $33.1-million while it posted a loss of $3.7-million compared with a profit of $6.3 million a year earlier. Analysts were troubled by not only the loss and lower sales but Sonus’ softer margins. Sonus’ shares, which fell 9% today, are quickly trending toward a 52-week low. For VOIP equipment makers interested in an IPO (Mitel Networks?), Sonus’ troubles suggest rough times are ahead.
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