Zhone Technologies, Inc. (ZHNE), a global leader in the fiber access market, today reported its financial results for the fourth quarter ended December 31, 2014.

January 28, 2015

1 Min Read

OAKLAND, Calif. -- Zhone Technologies, Inc. (ZHNE), a global leader in the fiber access market, today reported its financial results for the fourth quarter ended December 31, 2014.

Revenue for the fourth quarter of 2014 was $30.1 million compared to $29.4 million for the third quarter of 2014 and $32.3 million for the fourth quarter of 2013. Net loss for the fourth quarter of 2014, calculated in accordance with generally accepted accounting principles (“GAAP”), was $2.1 million or $0.06 per share compared with net loss of $2.7 million or $0.08 per share for the third quarter of 2014 and net income of $1.4 million or $0.04 per share for the fourth quarter of 2013. Adjusted earnings before stock-based compensation, interest, taxes, and depreciation (“adjusted EBITDA”) was an adjusted EBITDA loss of $1.7 million for the fourth quarter of 2014, compared to an adjusted EBITDA loss of $2.2 million for the third quarter of 2014 and an adjusted EBITDA profit of $1.6 million for the fourth quarter of 2013.

"We entered 2015 with a renewed level of confidence that we will grow revenue in both our service provider and enterprise businesses," stated Jim Norrod, Zhone's chief executive officer. "We are equally confident that our focused business structure and decisive business restructuring will lead to profitability which remains our primary financial objective."

Cash and cash equivalents at December 31, 2014 was $11.5 million compared to $15.7 million at December 31, 2013.

Zhone Technologies Inc. (Nasdaq: ZHNE)

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