Sonus Networks, Inc. (SONS)

[GGraessle]

A bump in the road. lol

 
  
 From Smith Barney: (you need to join their web site to view it:)  
  
  
  
 January 20, 2004   SUMMARY 
                    * SONS announced after the close that it would delay the 
 TELECOMMUNICATIONS   announcement of their quarterly results pending year-end 
 EQUIPMENT            audit. No time frame was offered for the comp. of this 
 Alex Henderson       process, but we think this should be resolved relatively 
                      quickly. 
                    * They also announced that the quarter was strong and 
 Daryl Armstrong      that they had recieved substantial new orders in the 
                      quarter, we think the language strongly intones 
                      continued good results. 
 Nigel Frankson     * They commented in the press release that the cash 
                      position exceeded $300 million, up from $293 million 
                      last quarter. 
                    * Management noted that the audit is simply the standard 
                      yearend process, they simply haven't finished it yet. 
                      We believe there are no bones of contention or red flags 
                      being argued about, but simply a detailed audit which 
                      hasn't finished. 
                    * We are reiterating our Buy on SONS and would use any 
                      weakness from current levels as an opportunity to build 
                      positions. 
  
  
 http://www.smithbarney.com