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Sonus slashes guidance, looks for cost cuts; currently halted

Mar. 24, 2015 7:50 AM ETRibbon Communications Inc. (RBBN) StockBy: Stephen Alpher, SA News Editor4 Comments
  • Q1 revenue is now expected to be $47M-$50M vs. previous guidance of $74M.
  • Q1 loss per share is now seen at $0.29-$0.34 vs. previous guidance of income of $0.03.
  • Full-year revenue is seen at up to 25% below the midpoint of previous guidance of $326M-$330M.
  • In light of the slower business, Sonus (SONS) has begun a company-wide review of its cost structure.
  • The stock is halted in the premarket, with trade expected to resume at 8 ET.
  • Source: Press Release
  • Previously: Sonus drops 5.3% after Wunderlich cuts target, estimates (March 23)

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