Zhone Technologies Reports Q4 EPS of $(0.04)

Zhone Technologies, Inc.

today reported its financial results for the fourth quarter ended December 31, 2010. Total revenue for 2010 was $129.0 million as compared to $126.5 million for 2009. Revenue for the fourth quarter of 2010 was $31.0 million compared to $33.7 million for the third quarter of 2010 and $36.0 million for the fourth quarter of 2009. Net loss for the fourth quarter of 2010, calculated in accordance with generally accepted accounting principles, was $1.3 million or $0.04 per share compared with a net income of $1.7 million or $0.05 per share for the third quarter of 2010 and a net income of $0.3 million or $0.01 per share for the fourth quarter of 2009. Adjusted earnings before stock-based compensation, interest, taxes, depreciation and gain on sale of Oakland campus was an adjusted EBITDA loss of $0.7 million for the fourth quarter of 2010, compared to an adjusted EBITDA profit of $0.6 million for the third quarter of 2010 and an adjusted EBITDA profit of $1.9 million for the fourth quarter of 2009.