Sonus Shares Plunging On Disappointing Guidance

Voice over IP equipment provider Sonus Networks (SONS) are off sharply in pre-market trading, after the company said revenue for the first half would be below previous expectations.

Sonus says it expects first half revenue growth of 16%-18% year over year, with 14%-17% growth for the full year. Sonus said it is seeing a shift in some customer capital spending to the second half; it is also seeing “a longer than expected approval cycle for a significant initial order from a new customer that is now expected in the second half of the year.”

“While we achieved solid revenue growth during the 1st half of 2007, we are of course disappointed that we did not reach the even greater revenue growth opportunities we have been targeting due to the shift in capital spending patterns of certain operators,” CEO Hassan Ahmed said in a statement.

Sonus shares Thursday morning are off $1.55, or close to 19%, at $6.73.

SONS 1-yr chart: