Ribbon Communications (NASDAQ: RBBN) reported Q3 EPS of $0.21, $0.06 better than the analyst estimate of $0.15. Revenue for the quarter came in at $159 million versus the consensus estimate of $140.83 million.

"I am very pleased with our accomplishments this past quarter, which validate the momentum we have built. During the third quarter of 2018, we benefitted from solution sales across our global installed base, illustrating the depth and breadth of our product offerings as well as our extensive worldwide reach," said Fritz Hobbs, President and Chief Executive Officer of Ribbon Communications. "During the quarter, we also completed the acquisition of Edgewater Networks, which places us in a strategic position to benefit from growth in the enterprise Edge market."

Third Quarter 2018 Financial Highlights1,2,3

• GAAP total revenue was $152 million (including $10 million of revenue attributable to the acquisition of Edgewater), compared with $137 million in the second quarter of 2018 and $75 million in the comparable period a year ago.
• Non-GAAP total revenue was $159 million (including $10 million of revenue attributable to the acquisition of Edgewater), compared with $145 million in the second quarter of 2018 and $75 million in the comparable period a year ago.
• GAAP net loss was $10 million, compared with a net loss of $20 million in the second quarter of 2018 and net income of $3 million in the comparable period a year ago.
• Non-GAAP net income was $23 million, compared with $14 million in the second quarter of 2018 and $13 million in the comparable period a year ago.
• GAAP loss per share was $0.10, compared with a loss per share of $0.20 in the second quarter of 2018 and GAAP diluted earnings per share of $0.07 in the comparable period a year ago.
• Non-GAAP diluted earnings per share was $0.21, compared with $0.14 in the second quarter of 2018 and $0.26 in the comparable period a year ago.
• Non-GAAP Adjusted EBITDA was $29 million, compared with $20 million in the second quarter of 2018 and $15 million in the comparable period a year ago.
• Cash and investments were $43 million at September 30, 2018, compared with $55 million at the end of the second quarter of 2018 and $83 million at fiscal year-end 2017.

"Third quarter non-GAAP Revenue grew to $159 million and Adjusted EBITDA of $29 million grew 45 percent compared with the second quarter 2018. These results demonstrate solid execution of our ongoing strategic priorities as well as our integration efforts," said Daryl E. Raiford, Chief Financial Officer of Ribbon Communications. "We are adjusting our full year 2018 guidance to reflect better-than-expected third quarter results and the acquisition of Edgewater. We now expect full year 2018 non-GAAP Revenue to be approximately $610 million and Adjusted EBITDA to be in excess of $80 million. We continue to be focused on building a solid business, emphasizing profitability, and expect an end-of-year 2018 Adjusted EBITDA exit velocity in excess of $110 million."

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