Sonus Networks Surges on Strong Quarter

The maker of voice-over-Internet-protocol communications gear wallops estimates.
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Sonus Networks

(SONS)

surged 24% late Monday after nearly doubling second-quarter earnings.

For the quarter ended June 30, the Chelmsford, Mass., company made $9.7 million, or 4 cents a share, up from the year-ago $4.9 million, or 2 cents a share. Revenue surged to $58.1 million from the year-earlier $42.4 million, as Sonus cited strong demand for its voice-over-Internet-protocol gear.

The numbers were far more robust than Wall Street had been expecting. A Thomson First Call survey pointed to an expected penny-a-share loss on sales of $38.6 million.

"The expanded demand for our VoIP solutions over the last several quarters and our focus on execution resulted in a strong second quarter and first half of 2005 for Sonus," said CEO Hassan Ahmed. "We also are pleased to have expanded our customer base and to have introduced several new products reflecting an increased pace of innovation on which we will continue to build our leadership position in the industry during the second half of 2005 and beyond."

Late Monday, Sonus surged $1.16 to $5.90.