The fiscal year did not end well for Technology Park Drive’s Sonus Systems, with the company announcing that it missed quarterly earnings estimates by just under half a million dollars.
However, Sonus was able to register a .9 percent year-over-year earnings increase with their $76.8 million annual revenue announcement and Q4 earnings per share (EPS) of $.15 were in line with expectations.
“I am very proud of our performance in 2014. We continued to attract some of the best talent in the industry, expanded our product portfolio into new growth areas and became embedded in a growing number of Tier one service provider networks around the world, “said Ray Dolan, president and chief executive officer.
Sonus also achieved a record high of 806 total customers in Q4, up almost 40 percent from the previous year.
For the first quarter of FY’ 15, the company projects $74 million in total revenue, with an EPS of $.03 a share. For the entire upcoming fiscal year, the company estimates anywhere from $326 to $330 million in revenues with an EPS of $.54 to $.58.
As of closing on April 8, Sonus (NASDAQ – SONS) was down to $7.65 a share following a large drop during the final week of March where the stock lost almost half its value.