Ribbon Communications reports Q4 non-GAAP EPS 12c, consensus 13c

Reports Q4 revenue $226M, consensus $234.76M. “I am very pleased with the significant improvement we have made in profitability in 2023 with higher margins in both of our segments and reduced operating expenses. Earnings on an adjusted EBITDA basis for the year increased 41% compared to 2022,” stated CEO Bruce McClelland. “We achieved our key goal of attaining profitability in the IP Optical Networks business segment for the second half of the year. Sales exceeded $100 million for the first time in the fourth quarter and, combined with strong margins, achieved an adjusted EBITDA margin of 8% for the segment. Demand for broadband capacity will continue to grow exponentially, and we expect to continue our momentum in 2024 with increasing sales and improved profitability. In our Cloud & Edge business, we expect continued growth from Enterprise customers and U.S. Federal agencies. We also anticipate an improving U.S. Tier One Service spending environment in the second half of the year.”