Ribbon Communications (NASDAQ: RBBN) reported Q1 EPS of $0.03, $0.01 better than the analyst estimate of $0.02. Revenue for the quarter came in at $193 million versus the consensus estimate of $193.52 million.

"We are off to a good start in 2021 with first quarter results in line with our expectations, and we are particularly pleased with our Adjusted EBITDA exceeding our guidance range and earnings per share at the high end of the range," noted Bruce McClelland, President and Chief Executive Officer of Ribbon Communications. "We look forward to building on this success as we continue to realize the benefits of our broader portfolio and robust customer relationships."

GUIDANCE:

Ribbon Communications sees Q2 2021 EPS of $0.09-$0.11, versus the consensus of $0.11. Ribbon Communications sees Q2 2021 revenue of $215-225 million, versus the consensus of $221.92 million.

Ribbon Communications sees FY2021 EPS of $0.49-$0.54, versus the consensus of $0.50. Ribbon Communications sees FY2021 revenue of $925-945 million, versus the consensus of $930.45 million.

• The Company's outlook is based on current indications for its business, which are subject to change. For the second quarter of 2021, the Company projects revenue of $215 million to $225 million, non-GAAP gross margin of 56% to 57%, non-GAAP diluted earnings per share of $0.09 to $0.11, and Adjusted EBITDA of $30 million to $34 million. For the full year 2021, guidance remains unchanged at revenue of $925 million to $945 million, non-GAAP gross margin of 55% to 56%, non-GAAP diluted earnings per share of $0.49 to $0.54, and Adjusted EBITDA of $145 million to $155 million. The current outlook assumes no worsening of conditions related to the COVID-19 pandemic.

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