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Ribbon Communications Q1 loss narrows YOY

Ribbon Communications Inc. said its normalized net income for the first quarter amounted to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss narrowed 81.1% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.2 million, compared with a loss of $11.9 million in the prior-year period.

The normalized profit margin climbed to negative 3.8% from negative 23.7% in the year-earlier period.

Total revenue rose 18.0% on an annual basis to $59.2 million from $50.1 million, and total operating expenses decreased 9.0% year over year to $63.0 million from $69.2 million.

Reported net income totaled a loss of $4.5 million, or a loss of 9 cents per share, compared to a loss of $19.3 million, or a loss of 39 cents per share, in the prior-year period.