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December 13, 2013
07:02 EDTSONSSonus Networks confirms Q4, FY13 guidance as provided on July 29
Sonus expects to provide 2014 guidance, which will include PTís contribution pending the closing of the transaction, when it reports its fourth quarter and full year operating results in February 2014. As of December 12, Sonus has repurchased a total of approximately 18 million shares since the inception of its $100M share repurchase program announced on July 29, and currently has approximately 267 million shares outstanding following the repurchases. Approximately $43M remains available for future share repurchases either on the open market or in privately negotiated transactions. Sonus expects to maintain a strong balance sheet, allowing it to continue to transform its business and invest in compelling growth opportunities, while returning capital to shareholders. The board of directors at Sonus believes that share repurchases represent an attractive investment opportunity and intend to continue to repurchase shares provided market conditions and other factors permit.
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