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Zhone Reports Third Quarter 2003 Results; Company Reports 8 Percent Sequential Growth in Revenue.

Article Excerpt
Business Editors

OAKLAND, Calif.--(BUSINESS WIRE)--Oct. 16, 2003

Zhone Technologies, Inc.

Third Quarter Results

-- Revenues of $22.2 million for the quarter ended September 30,

2003 versus $20.5 million for the quarter ended June 30, 2003.

-- Loss per basic and diluted share applicable to holders of

common stock on a U.S. GAAP basis was $0.12

-- Tellium and Zhone Technologies Announced Effectiveness of

Registration Statement; Special Stockholders Meeting set for

November 13, 2003

Zhone Technologies, Inc., the first company dedicated to developing the full spectrum of next-generation access infrastructure solutions, today announced that net sales for the quarter ended September 30, 2003, were $22.2 million, an increase of 8% from net sales of $20.5 million for the quarter ended June 30, 2003. For the quarter ended September 30, 2003, net loss applicable to holders of common stock on a generally accepted accounting principles (GAAP) basis, was $1.9 million or $(0.12) per share, compared with a net loss applicable to holders of common stock of $6.5 million or $(0.44) per share for the quarter ended June 30, 2003.

Net sales for the nine months ended September 30, 2003 was $59.8 million. Net loss applicable to holders of common stock for the first nine months of fiscal 2003, on a GAAP...