Ribbon Communications: 2Q Earnings Snapshot
WESTFORD, Mass. (AP) _ Ribbon Communications Inc. (RBBN) on Tuesday reported a loss of $19.9 million in its second quarter.
On a per-share basis, the Westford, Massachusetts-based company said it had a loss of 20 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were 14 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The maker of technology for telephone services over internet networks posted revenue of $137.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $136.5 million.
Ribbon Communications expects full-year revenue of $548 million.
Ribbon Communications shares have decreased almost 8 percent since the beginning of the year. The stock has risen roughly 4 percent in the last 12 months.