Dallas, Texas 10/09/2013 (Financialstrend) – After close of trading hours on October 8, Westford, MA based communication equipment manufacturer Sonus Networks, Inc. (NASDAQ:SONS), has published the timetable for announcing its 3Q results. The results will come out on October 29 after close of trading hours.
In its 2Q, the $917 million market cap firm had reported sales increase of 20% in comparison to 2Q12. It had notched up net loss of $50.6 million from sales of $264 million on a trailing twelve month time period. Its operation margin was down 12% and profit margin was down 19% on a trailing twelve month time period. The shares had lost some of its market value when its 2Q results were announced only to recoup the losses and post a 5.5% in their share value over the past 90 days.
In the run up to its 3Q results announcement, the stock is again under pressure to perform. It has shed close to 5.8% over last week’s trading and is down by 12.6% in comparison to its past one month valuation. During trade on October 8, the shares dipped by 4.4% in value over its previous day close. It ended the day’s trading at $3.25 per share which is close to 14.9% below its 52 week high valuation. But the stock has appreciated a long way from its 52 week low of $1.36 per share and at current valuations at trading at 138% above the 52 week low mark. Through the day close to 2 million shares of the stock changed hands which were in line with the daily average trading volume of 2.1 million shares.
Readers should remember that in August the board of directors of SONS had launched a share buyback offer in order to shore up the stock price and protect investors. At that time the exercise had coasted $25 million and the company was able to return 7.4 million of the common stock back to its treasury.