Sonus Says Nasdaq Stays Delisting

Capping off an eventful Thursday, Sonus Networks (SONSE) said after the bell that Nasdaq stayed its delisting decision on the company's stock.

The Chelmsford, Mass., maker of telecom network equipment said the stay will remain in effect until the Nasdaq Listing Qualifications Panel can rule on the company's application for continued listing.

Sonus took a big step toward keeping its Nasdaq listing after the company earlier Thursday finally posted results for periods going back two years. The company had suspended its filings since February, when it started an internal investigation and audit of its books. The examination prompted a wide-ranging restatement.

The company's shares rose 17% Thursday after Sonus said its restatements had uncovered mostly changes in the timing of deferred revenue.

On Thursday, Sonus rose 76 cents to $5.10.

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