Cancelled Debt Offering Costs ****  A non-cash amount benefitting Non-GAAP Diluted earnings per share for revenue lost from purchase accounting of $0.04 for , May 6, 2020 /PRNewswire/ -- Ribbon Communications Inc. /PRNewswire/ -- Ribbon Communications Inc. ... Revenue for the fourth quarter of 2020 was $244 million, compared to $161 million for the fourth quarter of 2019, an increase of 52%. View Press Release 269.5 KB. We further believe that providing this information helps investors to better understand our core financial and operating performance and evaluate the efficacy of the methodology and information used by our management to evaluate and measure such performance. These solutions include optical and IP systems for 5G networks, mobile back-haul, metro aggregation and wholesale carriers. ***   Non-cash amounts benefitting Non-GAAP Net income for revenue lost from purchase accounting of $22.1 million  Instant Telephone Access: Call me™. Catherine Berthier Effective for the first quarter of 2019 and for subsequent reporting periods, we no longer adjust our non-GAAP financial measures for the 2018 revenue standard adoption. **  Effective Q1 2019, the Company no longer adjusts for the impact of the adoption in 2018 of the new revenue standard. **** A non-cash amount benefitting Non-GAAP Diluted earnings per share for revenue lost from purchase accounting of We evaluate performance without these measures because stock-based compensation expense is influenced by the Company's stock price and other factors, such as volatility and interest rates that are beyond our control. Annual Goodwill Evaluation This gain is included as a component of other income (expense), net. We operate as a single operating segment with one reporting unit and consequently we evaluate goodwill for impairment based on an evaluation of the fair value of the Company as a whole. *      Less than $0.01 impact on earnings (loss) per share. Q3. By using this site you agree to the We review our restructuring accruals and facilities requirements regularly and record adjustments to these estimates as required. Do … See Ribbon Communications Inc. (RBBN) stock analyst estimates, including earnings and revenue, EPS, upgrades and downgrades. Built on world-class technology and intellectual property, the Company's cloud-native solutions deliver intelligent and secure real-time communications solutions for the cloud, network and enterprise edge. A telephone playback of the call will be available following the conference call until March 4, 2020 and can be accessed by calling 877-660-6853 or 201-612-7415 for international callers. Impact of New Revenue Standard Date: February 19, 2020 As a result, we reduced our deferred tax asset valuation allowance, resulting in an income tax benefit of $0.7 million and a reduction to our income tax provision in 2018. Q1. Budgeting and forecasting for revenue and expenses are conducted on a non-GAAP basis and actual results on a non-GAAP basis are assessed against the annual financial plan. In addition, our presentations of these measures may not be comparable to similarly titled measures used by other companies. 2 Please see the reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures, and additional information about non-GAAP measures in the section entitled "Discussion of Non-GAAP Financial Measures" and in the press release appendix. +1 (214) 695-2224 Accordingly, we believe that excluding such reductions related to acquisition transactions facilitates the comparison of our financial results to our historical results and to other companies in our industry. As such, we do not include such charges in our operating plans, and we believe that presenting non-GAAP operating results that exclude stock-based compensation provides investors with visibility and insight into our management's method of analysis and the Company's core operating performance. See insights on Ribbon Communications including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. View Presentation 346.2 KB. The company, currently valued at $1.22 Billion, closed the last trade at $8.41 per share which meant it lost -$0.37 on the day or -4.21% during that session. Restructuring and Related Expense The following table summarizes the consolidated fourth quarter and full year financial highlights for 2019 and 2018 (in millions, except per share amounts). Privacy Notice, and While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so, except as may be required by law. To learn more, visit ribboncommunications.com. Adjusted EBITDA:  Ribbon has not provided a reconciliation of Adjusted EBITDA for the year ending December 31, 2020, as it is unable to project without unreasonable efforts the comparable GAAP net income (loss) figure, which includes interest expense, net; income tax (benefit) provision; depreciation; amortization of intangible assets; stock-based compensation; certain litigation costs; acquisition- and integration-related expense; restructuring and related expense; and other income (expense), net. Revenue was $158 million for the first quarter of 2020 First Quarter 2020 software sales grew 62 percent compared with first Quarter 2019 Completed the merger with ECI Telecom during March 2020 WESTFORD, Mass. Ribbon Communications' management uses several different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of the business, making operating decisions, planning and forecasting future periods, and determining payments under compensation programs. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by an employee, and the cost to us is based on a stock-based compensation valuation methodology, subjective assumptions and the variety of award types, all of which may vary over time. , Aug. 5, 2020 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of converged We continue to see benefits from our investments in software solutions with our 2019 software sales growing 23 percent compared to the prior year," said Kevin Riley, Interim Co-President and Chief Executive Officer and Chief Technology Officer. In the first quarter of 2018, we recorded $1.7 million of expense related to settlements, comprised of $1.4 million for the settlement of litigation in connection with our acquisition of Taqua LLC and $0.3 million of patent litigation settlement expense. Ribbon Communications Inc. [RBBN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.63. These amounts are included as components of general and administrative expense. The company was formed in 2017, following the merger of GENBAND and Sonus Networks and is headquartered in Westford, Massachusetts. Ribbon Communications revenue breakdown by geographic segment: 66.0% from United States, 14.0% from Europe, Middle East and Africa, 7.0% from Japan, 7.0% … Any forward-looking statements represent Ribbon Communications' views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications' views as of any subsequent date. Important Information Regarding Forward-Looking Statements PLANO, Texcas, March 4, 2021 /PRNewswire/ -- 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 that it … Ribbon Communications Fourth Quarter and Full Year 2019 Financial Results Conference Call . (in thousands, except percentages and per share amounts). In addition, we exclude from net income (loss):  historical adjustments to revenue and cost of revenue related to our adoption of the new revenue standard (for periods prior to the first quarter of 2019); stock-based compensation expense; acquisition-related facilities adjustments; certain litigation costs; impairment of goodwill; settlement expense; cancelled debt offering costs; acquisition- and integration-related expense; restructuring and related expense; and other income (expense), net. Shares used to compute (loss) earnings per share: Operating lease liabilities, net of current. These costs are included as a component of general and administrative expense. Investor Relations The results were mixed relative to analyst expectations. In particular, many of the adjustments to our financial measures reflect the exclusion of items that are recurring and will be reflected in our financial results for the foreseeable future. IR@rbbn.com, Lindsay Savarese Upcoming First Quarter 2020 Investor Conference Schedule. View Ribbon Communications (www.ribboncommunications.com) location in Massachusetts, United States , revenue, industry and description. -- Ribbon Communications Inc. (Nasdaq: RBBN), a global leader in secure and intelligent cloud communications, today announced its financial results for the fourth quarter 2018. In the fourth quarter of 2018, we announced that we intended to offer, subject to market conditions and other factors, $150 million aggregate principal amount of convertible senior notes due 2023 in a private offering to qualified institutional buyers. Intraday data delayed at least 15 minutes or per exchange requirements. Ribbon Communications revenue breakdown by business segment: 54.9% from Product and 45.1% from Service. View Press Release 234.9 KB. Our annual financial plan is prepared both on a GAAP and non-GAAP basis, and the non-GAAP annual financial plan is approved by our board of directors. GAAP accounting requires that the deferred rent liability of an acquired company be written off as part of purchase accounting and that a combined company's rent expense on a straight-line basis begin as of the acquisition date. Cookie Notice (). ***   A non-cash amount benefitting Non-GAAP Net income for revenue lost from purchase accounting of $4.6 million for the three months. We performed our annual testing for impairment of goodwill in the fourth quarter of 2019. Effective for the first quarter of 2019 and for subsequent reporting periods, we no longer adjust for the impact of the adoption of the new revenue standard in 2018. dwatson@rbbn.com, International Press "Our full year 2019 Adjusted EBITDA grew 39 percent year-over-year to $86 million, and we generated positive cash flow from operations of $56 million," said Daryl Raiford, Chief Financial Officer. WESTFORD, Mass., Feb. 19, 2020 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, today announced its financial results for the fourth quarter and full year 2019. Ribbon Communications (RBBN) came out with quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.20 per share. "For full year 2020, we expect continued growth in profitability and cash flow with our outlook for Adjusted EBITDA to be between $90 million and $95 million, excluding the pending ECI acquisition. With this latest performance, RBBN shares gained by 15.05% in over the last four-week period, additionally plugging by 95.58% over the last 6 months – not to mention a rise of 145.91% in the past year of trading. We believe that excluding non-cash amortization of intangible assets facilitates the comparison of our financial results to our historical operating results and to other companies in our industry as if the acquired intangible assets had been developed internally rather than acquired. Upon completion of the goodwill impairment test, we determined that it was necessary to reduce our goodwill carrying amount and recorded a non-cash impairment charge in the fourth quarter of 2019. Historical and current end-of-day data provided by FACTSET. We believe that such gains are not part of our core business or ongoing operations. Conference Call Details The following tables provide the details of stock-based compensation and amortization of intangible assets included as components of other line items in the Company's Consolidated Statements of Operations and the line items in which these amounts are reported. All quotes are in local exchange time. We exclude certain acquisition- and integration-related costs to allow more accurate comparisons of our financial results to our historical operations and the financial results of less acquisitive peer companies. "Ribbon Communications delivered a very successful 2018, exceeding our strategic and financial objectives for the year. Ribbon Communications has a market capitalization of $1.29 billion and generates $563.11 million in revenue each year. For further information regarding risks and uncertainties associated with Ribbon Communications' business and important factors that could cause actual results to differ materially from these forward-looking statements, please refer to the "Risk Factors" section of Ribbon Communications' most recent annual and quarterly reports filed with the SEC. **    Effective Q1 2019, the Company no longer adjusts for the impact of the adoption in 2018 of the new revenue standard. +1 (708) 383-3387 "Now that we have obtained stockholder approval, we are looking forward to completing our combination with ECI Telecom Group Ltd., which we expect to occur during the first quarter of 2020 once we receive the remaining regulatory approval. Q2. By excluding these acquisition- and integration-related costs from our non-GAAP measures, we believe that our management is better able to evaluate our ability to utilize our existing assets and estimate the long-term value that the acquired assets will generate for us. Due to the methodology applied to our estimated annual tax rate, our estimated tax rate on non-GAAP income will differ from our GAAP tax rate and from our actual tax liabilities. Subsequent to the announcement, we determined the then-current market conditions were not conducive for an offering on terms that would be in the best interests of our stockholders. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. The non-GAAP income tax expense assumes no available net operating losses or any valuation allowances as a result of reporting significant cumulative non-GAAP income over the past several years. Find the latest Ribbon Communications Inc. (RBBN) stock quote, history, news and other vital information to help you with your stock trading and investing. We exclude the amortization of acquired intangible assets from non-GAAP expense and income measures. In the third quarter of 2019, we received $1.5 million of insurance proceeds in connection with this litigation, which reduced the expense reported in both the third quarter of and full year 2019.      ended December 31, 2018 has been removed to conform prior periods with the current period presentation. Acquisition- and Integration-Related Expense **   Effective Q1 2019, the Company no longer adjusts for the impact of the adoption in 2018 of the new revenue standard. View Press Release 202.4 KB. Other companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. Michael Cooper Ribbon Communications (RBBN) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of … Extraordinaries & Discontinued Operations, European stocks and U.S. equity futures fall in aftermath of Fed Chair Powell’s comments, Bitcoin could prevent society from functioning and is an ‘extreme form of libertarian anarchism,’ warns this fund manager, German manufacturing orders stronger than expected, London Stock Exchange profit and revenue rises, Dassault Aviation sees sales gains ahead in 2021, AIB swings to loss, sees return to profit in 2021, UBS executives compensation rises in 2020, UBS profit down slightly from unaudited results, Marks & Spencer says M&S Bank to move online, Stellantis will distribute Faurecia shares, cash. Accordingly, we believe that excluding the gain on litigation settlement related to this specific legal matter facilitates the comparison of our financial results to our historical results and to other companies in our industry. The communications equipment provider earns $-130,070,000.00 in net income (profit) each year or ($1.19) on an earnings per share basis. In addition, we believe that providing supplemental non-GAAP measures that exclude these items allows management and investors to consider the ongoing operations of the business both with and without such expenses. For the best MarketWatch.com experience, please update to a modern browser. Reduction to Deferred Purchase Consideration Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and IP optical transport solutions to … In general, we add back the expenses that we consider to be non-cash and/or not part of our ongoing operations. In connection with this offering, we incurred $1 million of expense. We believe that such reductions to cash deferred purchase consideration are not part of our core business or ongoing operations, as they relate to specific acquisitive transactions. Accordingly, we believe that excluding these costs facilitates the comparison of our financial results to our historical operating results and other companies in our industry. Ribbon Communications has 2,209 employees across 61 locations and $563.11 M in annual revenue in FY 2019. Ribbon Communications (RBBN) shares are down 8.4% after yesterday's Q4 report, which topped estimates with $0.18 EPSand met revenue consensus with $244M, up 52% on the year In addition, we are currently the plaintiff in litigation with a former business partner of GENBAND regarding amounts loaned to this former business partner that were never repaid. Accordingly, we believe that excluding the benefit arising from this adjustment to our income tax provision facilitates the comparison of our financial results to our historical results and to other companies in our industry. Subscriber Agreement & Terms of Use, In connection with this litigation, we incurred litigation costs beginning in the fourth quarter of 2017. Conference call to discuss its financial results for the fourth quarter and year ended December 31, 2019 on February 19, 2020, via the investor section of its website at http://investors.ribboncommunications.com, where a replay will also be available shortly following the conference call. Litigation Costs Visit a quote page and your recently viewed tickers will be displayed here. We calculate Adjusted EBITDA by excluding from net income (loss): interest income (expense), net; income tax provision; depreciation; and amortization of intangible assets. During the fourth quarter of 2019, the Company evaluated the carrying value of its goodwill balance, which resulted in a reduction to goodwill of $164 million, reflected as a non-cash charge to GAAP net income in its Consolidated Statement of Operations for the year ended December 31, 2019. We have recorded restructuring and related expense to streamline operations and reduce operating costs by closing and consolidating certain facilities and reducing our worldwide workforce. We consider the use of non-GAAP financial measures helpful in assessing the core performance of our continuing operations and when planning and forecasting future periods. It is reasonable to expect that stock-based compensation will continue in future periods. As a result, we recorded more rent expense than would have been recognized but for the purchase accounting treatment of GENBAND's assumed deferred rent liability. We use Adjusted EBITDA as a supplemental measure to review and assess our performance. Dial-in number (Intl): 201-389-0925 Monica Gould Without limiting the foregoing, the words "believes", "estimates", "expects", "expectations", "intends", "may", "plans", "projects" and other similar language, whether in the negative or affirmative, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Revenue was $161 million for the fourth quarter of 2019, Full year 2019 software sales grew 23 percent compared with 2018. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. ***   Non-cash amounts benefitting Non-GAAP Net income for revenue lost from purchase accounting of $22.1 million, **** A non-cash amount benefitting Non-GAAP Diluted earnings per share for revenue lost from purchase accounting of, $0.21 for the year ended December 31, 2018 has been removed to conform prior periods with the current period, *    A non-cash amount benefitting Adjusted EBITDA of $22.1 million for revenue lost from purchase accounting for the year, Ribbon Connect for Microsoft Teams Direct Routing, Business Continuity Planning for Our Customers, http://investors.ribboncommunications.com. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.         the three months ended December 31, 2018 has been removed to conform prior periods with the current period presentation. Wall Street Stock Market & Finance report, prediction for the future: You'll find the Ribbon Communications Inc - New share forecasts, stock quote and buy / sell signals below.According to present data Ribbon Communications Inc - New's RBBN shares and potentially its …       $0.21 for the year ended December 31, 2018 has been removed to conform prior periods with the current period *    A non-cash amount benefitting Adjusted EBITDA of $22.1 million for revenue lost from purchase accounting for the year We disclose this metric to support and facilitate our dialogue with research analysts and investors. We believe that such costs are not part of our core business or ongoing operations. Ribbon Communications (RBBN) delivered earnings and revenue surprises of 200.00% and 5.81%, respectively, for the quarter ended March 2020. Adjusted EBITDA is a non-GAAP financial measure that is used by our investing community for comparative and valuation purposes. Adjusted EBITDA Private Securities Litigation Reform Act of 1995, which are subject to a number of risks and uncertainties. Replay information: December 31, 2018 has been removed to conform prior periods with the current period presentation. Ribbon Communications (RBBN) delivered earnings and revenue surprises of 200.00% and 5.81%, respectively, for the quarter ended March 2020. Reconciliation of Non-GAAP and GAAP Financial Measures, Adjustment to revenue for new revenue standard**, Acquisition-related facilities adjustment, Acquisition- and integration-related expense, Reversal of tax benefit arising from purchase accounting, GAAP (loss) per share or diluted earnings per share, Shares used to compute diluted earnings per share or (loss) per share, GAAP Shares used to compute diluted earnings per share or (loss) per share, Non-GAAP Shares used to compute diluted earnings per share. Find related and similar companies as well as employees by title and much more.
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