Westford's Sonus Reports Disappointing First Quarter
It was a poor first quarter for the Tech Park East company, due in part to investments hampering short-term profit margins
Marketwatch and Worcester Business Journal announced a poor first quarter showing for the Tech Park East-based Sonus Systems, which announced $17 million in gross revenue and $13.2 in gross product revenue for the first quarter of 2012.
That total was higher than first quarter totals from 2011, but their $64.3 million in net revenue was $10 million lower than their fourth quarter 2011 results, due in large part to investments incurred by the company.
"The Company has strong momentum in the high-growth Session Border Controller market," said Ray Dolan, President and Chief Executive Officer. "We believe our current product portfolio is giving us a competitive advantage, enabling us to grow faster than industry growth rates. We will continue to innovate and enhance our SBC product portfolio this year, further expanding our addressable market and strengthening our competitive advantage."
Sonus projects a net revenue of $57 to 59 million for the second quarter of 2012, with gross revenue of approximately $15 million.