Sonus Networks Q2 Loss Narrows - Quick Facts

(RTTNews) - Sonus Networks Inc. (SONS) reported that its second-quarter net loss narrowed to $4.87 million or $0.02 per share, from $11.73 million or $0.04 per share, last year. Non-GAAP net income was $3.15 million or $0.01 per share for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report breakeven per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue rose to $69.19 million from $57.61 million last year. Analysts expected revenue of $67.05 million for the quarter.

The company expects its third-quarter total revenue in the range of $68 million to $72 million and basic earnings per share of $0.01. Analysts expect the company to report third-quarter profit per share of $0.01 and revenue of $65.93 million.

The company expects its full year total revenue in the range of $274 million to $278 million and earnings per share in the range of $0.01 to $0.02. Analysts expect the company to report full year breakeven per share of on revenue of $269.06 million.

Sonus announced that its Board has approved a stock buyback program of up to $100 million. Sonus also announced the planned departure of Maurice Castonguay, the company's senior vice president and chief financial officer.