Zhone Technologies Reports Fourth Quarter 2013 Financial Results

Zhone Technologies Reports Fourth Quarter 2013 Financial Results

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in FTTx network access solutions, today reported its financial results for the fourth quarter of 2013, ended December 31, 2013.

Revenue for the fourth quarter of 2013 was $32.3 million, compared to $31.5 million for the third quarter of 2013 and $28.3 million for the fourth quarter of 2012. Net income for the fourth quarter of 2013, calculated in accordance with generally accepted accounting principles (“GAAP”), was $1.4 million or $0.04 per share compared with net income of $1.6 million or $0.05 per share for the third quarter of 2013 and net income of $0.7 million or $0.02 per share for the fourth quarter of 2012. Adjusted earnings before stock-based compensation, interest, taxes, and depreciation (“adjusted EBITDA”) was an adjusted EBITDA profit of $1.6 million for the fourth quarter of 2013, compared to an adjusted EBITDA profit of $1.8 million for the third quarter of 2013 and an adjusted EBITDA profit of $0.9 million for the fourth quarter of 2012.

“When we entered 2013, our primary financial goal was to generate profitability for the year as a whole,” stated Mory Ejabat, Zhone Technologies’ chief executive officer. “Having achieved both top line growth and profitability, we enter 2014 with two primary financial objectives: generating continued revenue growth and improving profitability. Our industry leading MxK and new FiberLAN Optical LAN Solution make us optimistic that we can continue toward that path adding momentum as we move forward.”

Cash and cash equivalents at December 31, 2013 was $15.7 million compared to $11.1 million at December 31, 2012.

Detail:

http://www.zhone.com/about/news/2014/2013-q4-results.en-us

■ About Zhone Technologies

Zhone Technologies, Inc. (NASDAQ: ZHNE) is a global leader in fiber access transformation for service provider and enterprise networks, serving more than 750 of the world’s most innovative network operators.

The IP Zhone is the only solution that enables service providers to build the network of the future today, supporting end-to-end Voice, Data, Entertainment, Social Media, Business, Mobile Backhaul and Mobility service.

Zhone is committed to building the fastest and highest quality All IP Multi-Service solution for its customers.

Zhone is headquartered in California and its products are manufactured in the USA in a facility that is emission, waste-water and CFC free.