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EXHIBIT 99.1
SONUS NETWORKS ANNOUNCES 3-FOR-1 STOCK SPLIT
WESTFORD, MASS., AUGUST 15, 2000 - Sonus Networks (Nasdaq: SONS), a leading
provider of voice infrastructure solutions for the new public network, today
announced that the Company's board of directors has approved a three-for-one
stock split of the Company's common stock. The stock split will be effected in
the form of a stock dividend and stockholders of record at the close of business
on September 29, 2000 will be entitled to two additional shares of common stock
for each outstanding share of common stock held on that date. The additional
shares are expected to be distributed by the Company's transfer agent on or
about October 6, 2000 and the Company expects that its common stock will begin
trading on a split-adjusted basis on October 9, 2000.
ABOUT SONUS NETWORKS
Sonus Networks, Inc. is a leading provider of voice infrastructure products for
the new public network. Sonus' solutions enable service providers to deploy an
integrated network capable of carrying both voice and data traffic, and to
deliver a range of innovative, new services. The Sonus Open Services
Architecture(TM) (OSA) and award-winning Packet Telephony suite cut the
time-to-market for competitive new service products, allowing carriers and
third-party developers to expand marketshare and build important new revenue
streams. Its highly scalable products fully interoperate with and extend the
life and utility of today's public network. Sonus embodies in its management and
staff decades of experience in developing carrier-class voice, data and
multimedia solutions for implementation in the world's largest networks. Sonus,
founded in 1997, is headquartered in Westford, Massachusetts. Additional
information on Sonus is available at http://www.sonusnet.com.
This release may contain projections or other forward-looking statements
regarding future events or the future financial performance of Sonus that
involve risks and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ materially from
actual future events or results. Readers are referred to Sonus' Quarterly Report
on Form 10-Q for the quarter ended June 30, 2000, filed with the SEC, which
identifies important risk factors that could cause actual results to differ from
those contained in the forward-looking statements. These risk factors include,
among others, the Company's ability to grow its customer base, dependence on new
product offerings, market acceptance of our products, rapid technological and
market change and manufacturing and sourcing risks.
For more information, please contact:
Beth Morrissey
Sonus Networks
978-589-8579
[email protected]
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