Ribbon Communications Posts 5-Cent Loss Per Share in Q3
RBBN is trading near its 52-week low of $1.282 (9.2% above the low) on elevated volume (1.8× avg).
Summary
Ribbon Communications reported a third-quarter loss of $0.05 per share, with adjusted EPS of 7 cents. That is a narrower loss than the $0.15 per share it posted in Q2, when revenue came in at $192 million. Third-quarter revenue rose 14% quarter over quarter to USD 219 Million, short of the IBES estimate of USD 221.8 Million, and the company guided fourth-quarter revenue to $233M–$247M. The company is small and thinly capitalized, so a swing of a dime per share in quarterly losses is meaningful for a stock trading near $1.40. The headline carries no revenue figure or guidance, so the top line and any outlook will decide whether the improvement holds.
At the time of this announcement, RBBN was trading at $1.40 on NASDAQ in the Technology sector, with a market capitalization of approximately $250.4M. The 52-week trading range was $1.28 to $3.55. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.