TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research & Innovation
  • Security
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Access Evolution

Access Evolution

Ribbon Communications Inc. reports second quarter 2021 financial results

Via Ribbon Media Center

Jul 28, 2021

PLANO, Texas -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real-time communications software and IP optical transport solutions to service providers, enterprises, and critical infrastructure sectors, today announced its financial results for the second quarter of 2021.

Sales for the first half of 2021 were up 10% versus the first half of 2020, while Adjusted EBITDA increased 60% and Non-GAAP diluted earnings per share increased 133% over the same time period. Revenue for the second quarter of 2021 was $211 million, compared to $210 million for the second quarter of 2020.

"In the first half of the year, we made significant strides on the execution of our strategy, with new major IP Optical wins with Rogers, Optus, Singtel and several others," noted Bruce McClelland, President and Chief Executive Officer of Ribbon Communications. "These customer wins will significantly broaden our presence in this large addressable market and strengthen our foundation, establishing a clear path to growth in 2022 and beyond."

Mr. McClelland added, "Sales in India in the quarter were impacted by the surge in Covid infections and country-wide restrictions. Deployments have partially recovered in recent weeks, but timing of a full recovery in network investment is difficult to predict, so it is important for us to be prudent with our expectations for the remainder of the year."

Cash, cash equivalents and restricted cash was $115 million at June 30, 2021, compared with $109 million at March 31, 2021 and $94 million at June 30, 2020. GAAP Net income of $23 million in the second quarter of 2021 includes a $12 million non-cash gain associated with the quarterly mark-to-market of the Company's investment in American Virtual Cloud Technologies, Inc. ("AVCT") from the sale of the Company's Kandy Communications business and a $2.8 million gain on the sale of our QualiTech business, which closed during the second quarter.

"We were very pleased with the earnings and cash generation in the quarter with both Adjusted EBITDA and Earnings per share well above our targets for the quarter. Sales were slightly less than expected primarily due to the Covid situation in India, while gross margins were stronger due to favorable product mix. Operating expenses trended lower with continued spending discipline and the benefit from several one-time items," said Mick Lopez, Chief Financial Officer of Ribbon Communications.

Customer and Company Highlights

Strong 1H21 financial results: - 10% YoY revenue growth - 60% YoY Adj. EBITDA growth - Strong gross margins in both business units and continued disciplined expense control

Significant new IP Optical wins broadening Ribbon's global customer base: - Rogers Communications selected Ribbon's industry-leading 400G ZR+ optical networking and SDN solutions to upgrade its transport network - Optus and Singtel Telecommunications multi-service transport network DWDM tender award - Strong growth in North American markets with 1H21 sales exceeding sales in all of 2020, including Huawei replacement win with US wireless provider

Continuing portfolio innovation: - Successful introduction and initial shipments of industry's first 400G ZR+ DWDM metro and long-haul transport solution - Integral contributor enabling industry to meet US robocalling June 30th deadline with complete portfolio including CallTrust and STIR/SHAKEN solutions

Business Outlook
The Company's outlook is based on current indications for its business, which are subject to change. For the third quarter of 2021, the Company projects revenue of $215 million to $225 million, non-GAAP gross margin of 57% to 58%, non-GAAP diluted earnings per share of $0.11 to $0.13, and Adjusted EBITDA of $32 million to $36 million. For the full year 2021, earnings guidance remains unchanged with non-GAAP diluted earnings per share of $0.49 to $0.54, and Adjusted EBITDA of $145 million to $155 million. Revenue is now projected to be approximately $900 million with increased non-GAAP gross margin of 58% to 59%. The current outlook assumes no worsening of conditions related to the COVID-19 pandemic, or supply chain disruptions.

Related Topics
  • Access Evolution,
  • Asia-Pacific,
  • Digital Platforms and Services,
  • North America,
  • Optical,
  • Ribbon Communications,
  • Telecoms Vendors & OEMs,
  • Tracker

More Like This

5G Evolution

What’s up with… Samsung, M&A in Canada, Orange and Telenet

Jan 30, 2023

Access Evolution

Most complained-about telecoms and pay-TV providers revealed

Jan 30, 2023

Access Evolution

Orange Belgium and Telenet sign two commercial wholesale agreements providing access to each other’s Hybrid Fiber Coaxial and Fiber to the Home networks

Jan 30, 2023

Access Evolution

Mobile backhaul transport market forecast to grow to $5.3bn by 2025, according to Dell’Oro Group

Jan 27, 2023

5G Evolution

Elisa’s Financial Statements Release 2022

Jan 27, 2023

This content extract was originally sourced from an external website (Ribbon Media Center) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

0:46

The Cloud Native Telco Summit returns this September!

8:32

Azita Arvani on Being a Female Leader at Rakuten Symphony

16:19

AT&T Amy Zwarico on securing telco applications in the public cloud

1:44

Join us for the greatest industry debate of the year!

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us
  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2023. All rights reserved. All brands and products are the trademarks of their respective holder(s).