Dasan Zhone revenues drop 15.7% in Q2

PLANO, Texas – DASAN Zhone Solutions, a leading enabler of the emerging hyper-connected, hyper-broadband world, today reported results for the second quarter of 2020.

Second Quarter 2020 Financial Results
Net revenue for the second quarter of 2020 was $70.5 million, a 15.7% decrease year-over-year from $83.7 million in the prior year period, primarily due to the global slowdown associated with the COVID-19 pandemic. Revenues were positively impacted by new business with top tier customers focused on the next generation of fiber and wireless access solutions.

GAAP gross profit margin for the second quarter of 2020 was 33.7%, compared to 33.2% in the second quarter of 2019. Adjusted gross profit margin for the second quarter of 2020 was 34.4%, compared to 34.2% in the second quarter of 2019.

GAAP net loss attributable to DZS for the second quarter of 2020 totaled $(0.2) million, or $(0.01) per diluted share compared to GAAP net income attributable to DZS of $2.4 million, or $0.13 per diluted share, in the same period last year. Non-GAAP net income attributable to DZS for the second quarter of 2020 totaled $2.0 million, or $0.09 per diluted share, compared to non-GAAP net income attributable to DZS of $4.8 million, or $0.26 per diluted share, in the year ago quarter.

Total cash and cash equivalents (excluding restricted cash) as of June 30, 2020 were $38.0 million, compared to $26.4 million as of March 31, 2020.

Read the full announcement here.

Dasan Zhone Solutions