Sonus Networks expects to report revenue for the first quarter ended March 31, 2005 of between $30 million to $34 million. Based on revenue in this range, the company expects to report a net loss. The company ended the first quarter with approximately $311 million in cash, cash equivalents, long-term investments, and marketable securities. These results are estimates, as the company does not anticipate completing its quarterly review process until early May.
“We are disappointed that our revenue is lower than anticipated. The revenue shortfall is due to schedule delays for the conversion of certain shipments to revenue and the late renewals of several annual maintenance contracts,” said Hassan Ahmed, chairman and CEO, Sonus Networks. “While we expect to recognize revenue below our previous outlook, our business continues to be strong with robust order activity in the quarter that is expected to result in an order to revenue ratio that is modestly below 2. This follows our record order activity in Q4.”http://www.sonusnet.com
