DASAN Zhone Solutions, Inc. (NASDAQ: DZSI or the Company), a global leader in fiber access transformation for enterprise and service provider networks, today reported its financial results for the quarter ended September 30, 2016. Due to the continuing post-merger consolidation of the operations and financial reporting of Legacy Zhone and DASAN Network Solutions, Inc. (DNS), the Company intends to file its Quarterly Report on Form 10-Q for the nine months ended September 30, 2016 after market close on Monday, November 14, 2016, which is five days later than the required filing deadline. On November 10, 2016, the Company will file the requisite Form 12b-25 with the Securities and Exchange Commission in connection with the filing delay. The Merger has been accounted for as a reverse acquisition under which DNS was considered the accounting acquirer of Legacy Zhone. As such, the financial results of the Company for the three and nine months ended September 30, 2016 reflect the operating results of DNS and its consolidated subsidiaries only for the period commencing on the first day of the applicable period through September 8, 2016 and include the operating results of both DNS and Legacy Zhone for the period September 9 through September 30, 2016. Such results are compared to the financial results for DNS and its consolidated subsidiaries for the three and nine months ended September 30, 2015. The balance sheet of the Company reflects the fair value of its assets and liabilities as of the merger date. Those assets include the value of acquired intangible assets and goodwill. Additionally, all historical equity accounts of DNS and its subsidiaries, including par value per share, share and per share numbers, have been adjusted to reflect the shares of the Company's common stock issued in connection with the Merger. Revenue for the third quarter of 2016 was $32.2 million, compared to $35.3 million for the second quarter of 2016 and $22.6 million for the third quarter of 2015. Net loss for the third quarter of 2016, calculated in accordance with generally accepted accounting principles ("GAAP"), was $4.9 million or $0.06 per share compared with net income of less than $0.01 million or $0.00 per share for the second quarter of 2016 and net loss of $2.8 million or $0.01 per share for the third quarter of 2015. Adjusted earnings before stock-based compensation, interest, taxes, depreciation and amortization and merger transaction costs ("adjusted EBITDA") was an adjusted EBITDA loss of $0.5 million for the third quarter of 2016, compared to an adjusted EBITDA profit of $0.7 million for the second quarter of 2016 and an adjusted EBITDA loss of $2.0 million for the third quarter of 2015.