2Q07 highlights:
• 2Q07 revenues $75.5 million; Net loss of $7.0 million; compared to 1Q07 revenues of $71.1 million and a net loss of $4.0 million.
• One customer accounted for over 10% revenues: AT&T
• Top 5 customers accounted for 64% revenues
• Realized revenue from 70 customers
• International revenues were 25.5%
• Gross margins: 57.9% of revenue
• Headcount: 975, up from 913 at the end of previous quarter
• Paid $9 million for Zynetix acquisition during the quarter
• Total deferred revenue: $86.6m
• Left with $374 million cash at the end of 2Q07
Other 2Q07 hightlights:
• Signed up France Telecom as customer
• Integrated SBC solution NBS currently deployed at 40 operators globally including France Telecom.
• Class 5 business: Carphone Warehouse one of the main customers; subscriber base around 500k
• Wireless is the thrust area. AT&T is still the largest customer in that area.
• AT&T’s iPhone voice mail traffic traveling over Sonus equipment
• Announced Femtocell trial with Softbank BB
• Introduced support for the ENUM
Guidance:
• Q3 flat compared to Q2. Strong ramp up in Q4. Expect lot of orders to come in Q4 which are likely to be follow-on business thus translating into revenue quickly.
Sonus Networks also announced that President and Chief Operating Officer, Bert Notini, will be leaving the company to join New Mountain Capital, LLC