WESTFORD, Mass. (AP) — Sonus Networks Inc. said Tuesday its fourth-quarter net income fell 67 percent as it repositioned itself to focus on high-growth areas within Internet service provider networking.
The company, which makes Internet hardware and software, said net income for the three months ended Dec. 31 fell to $3.7 million, or a penny per share, from $11.4 million, or 4 cents per share, in the same period last year. Excluding one-time items, net income was 2 cents per share, matching analyst expectations, according to FactSet.
Revenue fell nearly 11 percent to $74.3 million from $83 million. Analysts expected revenue of $72 million.
For the year, net loss widened to $12.7 million, or 5 cents per share, from a loss of $10.7 million, or 4 cents per share a year ago.
Revenue rose 4 percent to $259.7 million from $249.3 million.
For the first quarter, the Westford-based company expects an adjusted loss of 2 cents per share to 3 cents per share on revenue of $57 million to $59 million. Analysts expect the company to break even per share on revenue of $58.9 million.
Shares in Sonus were unchanged in extended trading following the release of the earnings report. They had ended the regular trading session down 5 cents, or 1.8 percent, at $2.69.