Short Selling Alert : Sonus Networks, Inc. (NASDAQ:SONS) | Focus Media Holding Limited (FMCN) | Forum

Avatar

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Short Selling Alert : Sonus Networks, Inc. (NASDAQ:SONS)
April 8, 2015
9:23 am
Avatar
webcide
Guest
Guests

Short Selling Alert : Sonus Networks, Inc. (SONS). Sonus Networks, Inc. faces Investigation over possible Securities Laws Violations .

Shares of Sonus Networks (NASDAQ: SONS) were down more than 30% Tuesday as of 1:08 p.m. after the company lowered its current-quarter guidance and initiated a cost reduction review.

Sonus states it “no longer expects to receive certain orders … that had been expected to be received at the back end of the first quarter.” As a result, first-quarter revenue is now expected to be $47 million to $50 million, compared to Sonus’ previous guidance for sales of $74 million. In addition, Sonus Networks’ adjusted loss per share is expected to be in the range of $0.29 to $0.34, compared to previous guidance for adjusted earnings of $0.03 per share. Analysts, on average, were modeling earnings of $0.03 per share on sales of $73.7 million.

Worse yet, Sonus’ full-year 2015 revenue will be up to 25% below the midpoint of its previous annual guidance range of $326 million to $330 million. That’s well below Wall Street’s forecasts, which call for 2015 revenue of $324.9 million.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sonus Networks, Inc. concerning whether a series of statements by Sonus Networks, regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On March 24, 2015, Sonus Networks, Inc. announced that it is updating its previous guidance and initiated a company-wide cost reduction review. Sonus Networks, Inc. lowered its previously issued guidance. Sonus Networks, Inc. said that it expects revenue to be in the range of $47 million to $50 million and non-GAAP loss per share in the range of $0.29 to $0.34 for the first quarter ending March 27, 2015 as compared to previous guidance of $74 million in revenue and non-GAAP diluted earnings of $0.03 per share. Sonus Networks, Inc. said that it also expects its revenue for the full year will be up to 25% below the midpoint of its previous annual guidance of $326 million to $330 million.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Forum Timezone: America/Los_Angeles

Most Users Ever Online: 836

Currently Online: higen, arifin103, Orin, mirzu, fgdfxhfj, dayking, free24, koluma, online.tv, parkerjos, sodako, onlinegames, bfgzgbfsgb, bobbyfuentes43, hadi1234, jesicariskata212, ghsghfgfgrtyr, vuceze, razib00, sadibkhan, movie, rostaylor007zim, pvlkrpll, laham00, morgansmith8146
219 Guest(s)

Currently Browsing this Page:
1 Guest(s)

Top Posters:

kalopc: 1448

patriciamorales: 527

gs335671: 341

DavidBOSS: 336

[email protected]: 300

oplet tua: 289

Member Stats:

Guest Posters: 14

Members: 3998

Moderators: 0

Admins: 1

Forum Stats:

Groups: 1

Forums: 11

Topics: 9483

Posts: 13333

Newest Members:

ziyaya, vkpv11, morgansmith8146, jimmieboucaut1, brainoconner, ktalarhonda

Administrators: Muddy Waters: 5