Westford’s Sonus Networks shared this week that performed poorly compared to earnings expectations, confirming fears the company held at the end of FY’ 14.
The company announced that Q1 FY’ 15 company revenue was $50.1 million, a $20.6 million year-over-year drop and over $24 million less than was expected for this quarter.
“I can tell you that this is absolutely not where we want to be and I am disappointed with our first quarter results as well as the revision to our full-year outlook,” said Ray Dolan, CEO of Sonus. “I and the entire management team understand the importance of doing what we say we will do.”
Dolan explained that the Q1 earnings expectations came from late quarter deals that had been delayed by customers, which accounted for approximately half of the $24 million shortfall.
Expected earnings for Q2 are expected to be in the range of $53 to $55 million, with full-year revenue expected in the range of $245 to $250 million.
The company’s stock (NASDAQ: SONS) saw a slight dip after the announcement, closing at $7.89 a share on Thursday, but remained level in comparison to a recent steep drop during the shortfall fears, going from the $15 range in mid-March to just over $8 at the beginning of April.
Located on Technology Park Drive in Westford, Sonus is a supplier of internet communication equipment.
