Key Developments: Sonus Networks Inc (SONS.O)

SONS.O on Nasdaq

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24 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Sonus Networks Inc gives Q2 2014 guidance in line with analysts' estimates; reaffirms FY 2014 guidance
Thursday, 24 Apr 2014 07:00am EDT 

Sonus Networks Inc:Expects Q2 2014 total revenue of $73 to $75 million.Expects Q2 2014 EPS of $0.01.Expects FY 2014 total revenue of $300 million.Expects FY 2014 EPS of $0.05.Q2 2014 revenue of $74 million and EPS of $0.01 - Thomson Reuters I/B/E/S.FY 2014 EPS of $0.05 - Thomson Reuters I/B/E/S.  Full Article

Sonus Networks Inc announces pricing of offering of common stock by selling stockholder and concurrent share repurchase
Friday, 21 Mar 2014 08:24am EDT 

Sonus Networks Inc:Pricing of underwritten public offering of 37.5 mln shares of its common stock on behalf of Galahad Securities Limited and its affiliated entities at $3.53 per share.Underwriter of offering has been granted 30-day option to purchase up to 5.625 mln additional shares from Legatum Group.Legatum Group will receive all proceeds from underwritten offering, no shares in underwritten offering are being sold by Sonus or any of its officers or directors.Sonus will repurchase from underwriter about 21.5 mln shares of its common stock that are subject of offering at about $3.49 per share.Intends to fund share repurchase with cash on hand.Repurchased shares will no longer be outstanding following completion of this offering.Offering and share repurchase are expected to close on or about March 25.  Full Article

Sonus Networks Inc announces offering of common stock by selling stockholder and concurrent share repurchase
Thursday, 20 Mar 2014 04:18pm EDT 

Sonus Networks Inc:Commencement of underwritten public offering of 37.5 mln shares of common stock on behalf of Galahad Securities Ltd.The Legatum Group will receive all the proceeds from the underwritten offering.Intends to repurchase about $75 mln of common stock at a price per share equal to the price per share to be paid by the underwriter to the Legatum Group in the underwritten offering.  Full Article

Sonus Networks Inc reaffirms Q1, FY 2014 outlook
Thursday, 13 Mar 2014 08:37am EDT 

Sonus Networks Inc:Affirms its FY, Q1 2014 guidance.Expects Q1 2014 total revenue of $70 mln.Expects Q1 2014 EPS of $(0.01).Expects FY 2014 total revenue of $300 mln.Expects FY 2014 EPS of $0.05.Q1 2014 revenue of $70 mln, EPS of $(0.01) - Thomson Reuters I/B/E/S.FY 2014 EPS of $0.05 - Thomson Reuters I/B/E/S.  Full Article

Sonus Networks Inc gives Q1 2014 guidance; Q1 2014 revenue guidance above analysts' estimates; gives FY 2014 guidance in line with analysts' estimates
Thursday, 20 Feb 2014 07:00am EST 

Sonus Networks Inc:Sees Q1 2014 revenue about $70 mln and EPS of $(0.01).Q1 2014 revenue of $64 mln and EPS of $(0.01) - Thomson Reuters I/B/E/S.Sees FY 2014 revenue of $300 mln and EPS of $0.05.FY 2014 revenue of $286 mln and EPS of $0.05 - Thomson Reuters I/B/E/S.  Full Article

Sonus Networks Inc completes acquisition of Performance Technologies Inc
Wednesday, 19 Feb 2014 07:00am EST 

Sonus Networks Inc:Completes its acquisition of Performance Technologies Inc (PT).As previously announced on Dec. 13, 2013, Sonus and PT entered into a definitive merger agreement.Under which Sonus would acquire PT for $3.75 per share in cash, or about $34 million, net of PT's cash and excluding acquisition-related costs.  Full Article

Sonus Networks Inc announces definitive agreement to acquire Performance Technologies, Inc
Friday, 13 Dec 2013 07:00am EST 

Sonus Networks Inc and Performance Technologies, Inc:Enters into a definitive merger agreement under which Sonus will acquire PT for $3.75 per share in cash, or about $30 mln, net of PT`s cash and excluding acquisition-related costs.Says under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Sonus will acquire all of the outstanding shares of PT for $3.75 per share in cash.Says the transaction will be funded using Sonus` existing cash on hand and is expected to be accretive to Sonus` non-GAAP EPS for full year 2015 and mildly dilutive (two cents or less) in 2014.Says the transaction is expected to close in the Q1 2014.Says Evercore Partners Inc. is serving as Sonus` financial advisor, and Wilmer Cutler Pickering Hale and Dorr LLP is serving as Sonus` legal advisor.Says Bowen Advisors, Inc. is serving as PT`s financial advisor, and Harter Secrest & Emery LLP is serving as PT`s legal advisor.Says Craig-Hallum Capital Group, LLC provided a fairness opinion to PT`s board of directors.  Full Article

Sonus Networks Inc Appoints New Chief Financial Officer
Tuesday, 29 Oct 2013 04:15pm EDT 

Sonus Networks, Inc announced that the appointment of Mark T. Greenquist as Chief Financial Officer, effective November 1, 2013. Greenquist will report directly to Ray Dolan, President and Chief Executive Officer of Sonus.  Full Article

Sonus Networks Inc Issue Q4 2013 Guidance In Line With Analysts' Estimates; Lowers FY 2013 Revenue Guidance; Updates FY 2013 EPS Guidance
Tuesday, 29 Oct 2013 04:01pm EDT 

Sonus Networks Inc announced that for fourth quarter of 2013, it expects total revenue to be in the range of $70 to $75 million and diluted earnings per share (EPS) to be $0.02. For fiscal 2013, it expects total revenue to be in the range of $270 to $275 million and diluted EPS to be $0.02. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $74 million and EPS of $0.02 for the fourth quarter of 2013; revenue of $275 million and EPS of $0.02 for fiscal 2013.  Full Article

Sonus Networks Inc Announces Privately-Negotiated Share Repurchase
Monday, 26 Aug 2013 07:00am EDT 

Sonus Networks Inc announced that as part of the previously announced stock buyback program, it has agreed to repurchase approximately 3.1 million shares of the Company’s common stock in a privately negotiated transaction with Empire Capital Management, L.L.C. (Empire) at $3.50 per share, the market closing price on August 23, 2013, for a total purchase price of approximately $11 million. The Company will pay for the share repurchase using cash on hand. Prior to the transaction, as reflected in filings made by Empire with the Securities and Exchange Commission, Empire owned 30.5 million shares, or approximately 11%, of the Company’s outstanding common stock. Following the transaction, Empire will own 27.4 million shares, or approximately 10%, of the Company’s outstanding common stock. The Company announced on July 29, 2013 that the Board of Directors had authorized a stock buyback program to repurchase up to $100 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions. The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors.  Full Article

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