Net income rises 11% at Sonus

Associated Press / March 1, 2011

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WESTFORD — Internet network hardware and software maker Sonus Networks Inc. said yesterday its fourth-quarter net income rose 11 percent as revenue from both products and services increased.

For the quarter that ended Dec. 31, Sonus said its net income rose to $11.4 million from $10.3 million in the year-ago quarter. On a per-share basis, earnings were flat at 4 cents per share as average shares outstanding increased in the 2010 period.

Analysts surveyed by FactSet forecast earnings of 3 cents per share.

Quarterly revenue increased 21 percent to $83 million, from $68.7 million in the same period a year earlier, much higher than the $68.6 million analysts predicted.

Sonus widened its net loss in 2010 to $10.7 million, or 4 cents per share, from a loss of $4.9 million, or 2 cents per share in 2009.

Annual revenue rose 10 percent to $249.3 million from $227.5 million a year earlier.

For 2011, Sonus said it expects revenue of $265 million to $285 million, higher than the $242.3 million analysts are currently expecting.

Shares of Sonus Networks climbed 91 cents to $3.94 in after-hours trading.