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UPDATE 1-Sonus Networks posts surprise Q2 profit, shares rise

Thu Jul 30, 2009 10:21am EDT

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* Q2 EPS $0.02 vs est. $0.03 shr loss

* Q2 rev $61.6 mln vs. est $47.3 mln

* Shares up as much as 16 percent

July 30 (Reuters) - Telecommunications-gear maker Sonus Networks Inc (SONS.O) posted a surprise second-quarter profit on cost control measures, sending its shares up as much as 16 percent.

Net income was $4.4 million, or 2 cents a share, beating the average analysts' expectation of a loss of 3 cents a share, according to Reuters Estimates.

Revenue fell by about 30 percent to $61.6 million, yet managed to handily beat Wall Street estimates of $47.3 million.

Sonus shares were up 21 cents at $1.99 in morning trade on Nasdaq. They touched a high of $2.07 earlier in the session.

For the alerts, double-click here. [ID:nWNBB5707] (Reporting by Deepti Govind in Bangalore; Editing by Jarshad Kakkrakandy)



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