With those comments in mind, I would now like to introduce Mory Ejabat, Zhone’s Chairman and Chief Executive Officer.
Mory Ejabat – Chairman and Chief Executive Officer
Thank you, Kirk. Good afternoon and thank you for joining us today for our third quarter 2011 earnings call.
The third quarter revenue decreased slightly to $30.2 million due to the seasonal slowdown in our international markets and some deferred deployment for a few domestic customers that continued to wait for broadband stimulus funding. More or less as expected, the MXK continued to drive new organic customer growth, sustained industry leadership, and a strong customer acceptance. As a result, we expect revenue growth in the fourth quarter accompanied by adjusted EBITDA profitability. Kirk will start our financial results and guidance in greater detail later.I am proud to announce that Zhone Technologies has been recognized by the industry’s leading technology analysts like IDC and Infonetics Research for sixth consecutive quarter of GPON leadership. Zhone is the only American GPON supplier among the top five global GPON vendors. We have significant number of new product launches in the quarter helping to further increase our investing years and technology differentiation. In September 2011, we announced immediate availability of the MXK 194/198 1U GPON OLT platforms. The new 194/198 1U GPON OLTs provide an expanding addition to the industry leading MXK and some portfolio. To complement the new MXK 1U GPON OLTs, Zhone also introduced a new portfolio of zNID GPON ONTs targeted for indoor residential use. As part of ongoing effort to increase cost efficiency and service differentiation, the new indoor zNID 2400 series of GPON ONTs offer a rich area features and functionality optimal for both Greenfield or expansion FTTx networks globally, and leverage features and best-in-class performance delivered by Zhone’s widely deployed 4200 series outdoor zNID ONTs. These new products help to complement an already powerful solution suite and we are confident of these new products targeting both the central office and customer premise of Zhone to better serve our new and existing customer in all the markets globally. Zhone continues to be new customers in all of our said markets including new international, domestic, and stimulus customers throughout the quarter. Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV