Dallas, Texas 07/17/2013 (Financialstrend) – Recently Sonus Networks, Inc. (NASDAQ:SONS) announced its expansion to two-tier program, the company had been a one-tiered channel program with no distributors and channel partners in single digit. The company which assured to have additional channel partners last year now have 300 channel partners with more than a dozen distributors. This is a great shift for the company which until a few years ago remained direct distributions.
Joe Mclaughlin vice president of Sonus Networks channels at Westford said that Sonus Networks at first had the aim of adding 20 to 25 partners and the company mainly concentrated on Cisco and Avaya their partners who sold infrastructure. The company’s assured program to include channel partners now involve members like NEC, Dell, Orange Business Systems, Arrow S3, Sumitomo Shoji Machinex, Dimension Data, ScanSource, Distribution Central, NextiraOne, Verizon, Integration Partners, Westcon and Sumitomo Shoji Machinex. The company also had a channel growth in companies that gives Microsoft Lync UC solutions because of its acquisition with NET, then sonus focused to deliver Microsoft Lync-qualified SBCs rather than offering other brands. The company will release its second quarter financial result 2013 on July 29 2013; it also announced that the company arranged a conference call after the result being announced.
Shares of Sonus Networks, Inc. opened at $3.26 per share and thereafter increased by 0.92% and currently trading at $3.31. There had been intraday price movements in the stock within the range of $3.22 – $3.35 as high price. Sonus has 52 week low at $1.36 and 52 week high at $3.57 per share. The company has 282.23 million shares outstanding in the market which gives it a market cap of $931.37 million and there is institutional ownership in the capital at 53% of the stock. Sonus witnessed the trade of 5.70 million shares, while the average level is at 2.10 million shares per day.