Financials: Fourth Quarter 2013 Results
Fourth Quarter 2013 Results
- Revenue for the fourth quarter of 2013 was $32.3 million, an increase of $0.8 million from the prior quarter.
- Gross margin at 37.5%
- Operating expenses at $10.7 million
- Non-GAAP Proforma EBITDA income of $1.6 million
- Cash balance at $15.7 million
- Cash balance net of debt obligations is positive $5.7 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.