Based in Westford’s Tech Park East, Sonus Systems reported strong Fourth Quarter Fiscal Year 2015 financial results on Wednesday, creating a short term rally for its stock on Wall Street.
Following the call, Sonus (NASDAQ: SONS) saw its stock jump more than $0.50 overnight, and finishing the Feb. 17 trading day almost $2 ahead of its pre-announcement figure, jumping to $7.15 a share.
That jump came in part due to the global networking company meeting beating Q4 projection of $73 to $75 million, reaching the $76.3 million mark.
And despite a difficult early 2015, the company also came within $500,000 of getting back to its FY’ 14 Q4 GAAP revenue figures.
Despite the short term bounce back and optimistic business opportunities stemming from a outstanding customer backlog, the company still remained cautious, indicating somewhere between $58 and $59 million for FY’ 16 Q1’s GAAP revenue estimates.
Despite the spike, the company still has a ways to go before returning to its $20+ stock prices recorded just before the turn of 2015.
The company’s FY’ 2016 Q1 revenue announcement is scheduled for late April.