Revenue Update on Zhone Technologies Inc(NASDAQ:ZHNE)

Zhone Technologies Inc(NASDAQ:ZHNE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 21, 2016. Company reported revenue of $22.60M. Analysts estimated a revenue of $22.45M. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.04.

Zhone Technologies Inc (ZHNE) shares turned negative on Wednesdays trading session with the shares closing down -0.03 points or -2.48% at a volume of 1,86,596. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.3. The peak price level was also seen at $1.3 while the days lowest was $1.15. Finally the shares closed at $1.18. The 52-week high of the shares is $2.19 while the 52-week low is $0.91. According to the latest information available, the market cap of the company is $41 M.

Several Insider Transactions has been reported to the SEC. On Nov 4, 2015, Morteza Ejabat (Chairman) sold 7,000 shares at $1.31 per share price.Also, On Jan 30, 2015, James D Norrod (CEO) purchased 10,000 shares at $1.44 per share price.

Zhone Technologies Inc. (Zhone) designs develops and manufactures communications network equipment for telecommunications operators and enterprises across the world. The Company’s products provide enterprise solutions that enable both network service providers and enterprises to deliver high speed fiber access while transporting voice video and data to the end user. Its core business provides access products to carriers and service providers across the world. In addition to its product offerings in its core business it has launched its FiberLAN Passive Optical local area network (LAN) which provides an alternative to switched copper-based LANs. Its products provide the framework around which it designs and develops communications software and equipment for the access network. Its products span two categories: SLMS Products and Legacy Service and Other Products. Its products include MXK-F MXK MALC EtherXtend zNID and ZMS among others.

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