Sonus Networks Lifts Q3 Outlook

(RTTNews) - Sonus Networks Inc. (SONS) announced preliminary results for the third quarter ended September 30, 2017.The company reported preliminary third-quarter total revenue of $74.5 million, compared to prior outlook of $70 million to $72 million. The company now expects quarterly non-GAAP earnings per share to be between $0.25 and $0.26, compared to the previous guidance of $0.17 to $0.20 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $0.18 per share and revenues of $70.79 million for the third-quarter. Analysts' estimates typically exclude special items.

The company now projects third-quarter GAAP earnings per share to be in the range of $0.06 to $0.07, compared to the prior estimation of $0.05 to $0.08 per share.

For fiscal year 2017, the company expects GAAP loss per share of $0.46, non-GAAP earnings per share of $0.26 , and Total revenue to be flat with last year.