U.S. News

Sonus Networks Posts Drop in Quarterly Earnings


Sonus Networks said adjusted net income fell because of costs related to its ongoing stock option review.

The company said it will not report actual first-quarter earning numbers since it has not completed a restating of past results following a review of stock options grants.

The telecom gear maker did report a rise in preliminary first-quarter revenue fueled by growth in the IP-services market. The company reported first-quarter revenues of $71 million compared with $60 million in the year-ago period.