Richard Nottenburg, president and CEO of Sonus Networks, Inc. (NASDAQ:SONS), announced his intention to
step down by the end of March 2011. Until then Dr. Nottenburg will remain at his current position and assist the board in its search for a new CEO.
Currently, SONS stock is moving up and its shares made a price change of +7.17%. The market cap pointed 698.52M and the company’s traded volume reached over 4 million shares.
After the recent resistance level at 2.35, now SONS sells at 2.54 but we still can’t conclude it’s going to be a long-term uptrend.
Though the company’s revenue and net income for 2009 are lower than the year before, Sonus Networks expects the gross margin for 2010 to be within its longer term target range of 58% to 62%, and the total operating expenses to reach $146 million.
SONS reported they were satisfied with the significant progress the company has made, their clear market strategy and the launch of NBS-5200, the first product on their next generation ConnexIP™ platform.
The company expects to achieve flat to low single digit percent revenue growth for the year and continues to see the opportunity to grow its product revenues faster than the market.
