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What: Shares of Sonus Networks (Nasdaq: SONS) plunged today by as much as 11% before beginning to recover after the company reported earnings.

So what: Revenue in the first quarter came out on top of forecasts at $64.3 million, which generated a non-GAAP loss of $0.02, slightly better than the $0.03 loss that the market was expecting. CEO Ray Dolan said the company has strong momentum in the growing session border controller market.

Now what: The second-quarter outlook was a little mixed, though, with revenue expected between $57 million and $59 million, which should generate a loss of $0.03 per share. Full-year guidance is unchanged, and sales should be between $270 million and $280 million. The company expects to lose between $0.01 and $0.02 per share for fiscal 2012.

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Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.