For the most part guidance has been the story this earnings season, and that's the case with Sonus Networks (Nasdaq:SONS), which is up over 35 percent on the day.
Revenue rose 21 percent to $83 million, from $68.7 million in the same period quarter last year, far more than the $68.6 million analysts were looking for. Net income jumped to $11.4 million from $10.3 million in the same quarter last year. EPS came in at 4 cents a share.
Guidance for 2011 is for revenue to rise to a range of $265 million to $285, above the $242.3 million analysts projecting.
While the product portfolio of the company is slightly profitable, it doesn't justify the huge jump in the share price of the company, which is sure to come crashing back to earth, although possibly at a little higher level than where it started before the earnings report.
Sonus was trading at $4.11, soaring $1.08, or 35.64 percent, as of 2:38 PM EST.
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