Sonus to Restate Results for 2001, 2002 and 2003

Sonus Networks will restate its consolidated financial results for fiscal 2001 and 2002, and the first three quarters of fiscal 2003, following a detailed review of its accounting over the past three years. The company said the primary impact of the restatements is the adjustment to the timing of revenue recognition and certain other financial statement accounts. Principal adjustments to revenue relate to the timing of revenue where the revenue has been deferred and recognized in subsequent periods. In addition, other material restatements include adjustments to purchase accounting, impairments, accruals and deferred compensation. http://www.sonusnet.com