Zhone
Technologies posted revenue of $30.2 million for the third quarter of 2011
compared to $33.7 million for the third quarter of 2010.
Net
loss of Zhone for the
third quarter of 2011 was $2.7 million against a net income of $1.7 million for
the third quarter of 2010.
“The
MXK continued to drive new organic customer growth, sustained industry
leadership and strong customer acceptance,” said Mory Ejabat, chief
executive officer of Zhone.
“As
a result, we expect revenue growth in the fourth quarter accompanied by
adjusted EBITDA profitability,” Ejabat added.
Cash,
cash equivalents and short-term investments at September 30, 2011 was $17.8
million compared to $21.2 million at December 31, 2010. Cash net of debt
obligations at September 30, 2011 was $7.8 million compared to $11.2 million at
December 31, 2010.
By
Telecomlead.com Team
editor@telecomlead.com
