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