Financials: Fourth Quarter 2008 Results

Investor Relations

Fourth Quarter 2008 Results

Fourth quarter financial highlights

  • Revenue for the fourth quarter of 2008 was $31.0 million down 3% over prior quarter due to the global credit contraction which caused many of our customers to defer or reduce network expansion
  • Gross margin at 32.2%
  • Operating expenses at $14.3 million
  • Non-GAAP Proforma EBITDA loss of $4.5 million
  • Cash balance at $36.2 million
  • Cash balance net of debt obligations at $2.2 million

Press release

Zhone Technologies Reports Fourth Quarter 2008 Financial Results

To supplement Zhone's consolidated financial statements presented in accordance with GAAP, Zhone uses pro forma EBITDA, a non-GAAP measure Zhone believes is appropriate to enhance an overall understanding of Zhone's past financial performance and prospects for the future. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. A reconciliation between net loss calculated on a GAAP basis and pro forma EBITDA on a non-GAAP basis is provided in a table immediately following the Unaudited Condensed Consolidated Statements of Operations included in the press release which can be accessed from the link above.