Ribbon Communications (RBBN) Tops Q2 EPS by 12c, Revenues Beat

Ribbon Communications (NASDAQ: RBBN) reported Q2 EPS of $0.14, $0.12 better than the analyst estimate of $0.02. Revenue for the quarter came in at $145 million versus the consensus estimate of $136.78 million.

Second Quarter 2018 Financial Highlights1,2

GAAP total revenue was $137 million, compared with $121 million in the first quarter of 2018 and $56 million in the comparable period a year ago.
Non-GAAP total revenue was $145 million, compared with $135 million in the first quarter of 2018 and $56 million in the comparable period a year ago.
GAAP net loss was $20 million, compared with a net loss of $45 million in the first quarter of 2018 and a net loss of $12 million in the comparable period a year ago.
Non-GAAP net income was $14 million, compared with a net loss of $4 million in the first quarter of 2018 and a net loss of $1 million in the comparable period a year ago.
GAAP loss per share was $0.20, compared with a loss per share of $0.44 in the first quarter of 2018 and a loss per share of $0.25 in the comparable period a year ago.
Non-GAAP diluted earnings per share was $0.14, compared with a loss per share of $0.04 in the first quarter of 2018 and a loss per share of $0.02 in the comparable period a year ago.
Non-GAAP Adjusted EBITDA was $20 million, compared with $1 million in the first quarter of 2018 and $1 million in the comparable period a year ago.
Cash and investments were $55 million at June 30, 2018, compared with $85 million at the end of the first quarter of 2018 and $83 million at fiscal year-end 2017.

"Non-GAAP Revenue of $145 million and Adjusted EBITDA of $20 million in second quarter 2018 demonstrates solid business execution by the Ribbon team, including a focus on successfully concluding our ongoing integration efforts", said Daryl Raiford, Chief Financial Officer of Ribbon. "At this stage, we have operationalized over $75 million of integration synergies and, coupled with our first half business execution, we remain confident in our full year 2018 guidance of Adjusted EBITDA of $75 million and an end-of-year Adjusted EBITDA exit velocity of at least $100 million."

For earnings history and earnings-related data on Ribbon Communications (RBBN) click here.

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