Financials: Second Quarter 2009 Results
Second Quarter 2009 Results
- Revenue for the second quarter of 2009 was $30.3 million up 25.9% over prior quarter. The revenue growth was driven by broad based deployment of our new products in the U.S. and abroad.
- Gross margin at 34.7%
- Operating expenses at $13.0 million
- Non-GAAP Proforma EBITDA loss of $0.9 million
- Cash balance at $26.8 million
- Cash balance net of debt obligations is negative $2.0 million
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.