DASAN Zhone Solutions, Inc. (NASDAQ: DZSI), a global provider of fiber access transformation for enterprise and service provider networks, has reported its financial results for the three months ended March 31, 2018, the company said.
Net revenues for the March 31, 2018 ended quarter were USD 59.5 million, which grew 14.2% year-over-year compared to USD 52.1 million for the first quarter of 2017. Net revenue for the first quarter of 2018 reflected the implementation of the new revenue accounting standard (ASC 606). Excluding the impact from ASC 606, net revenues would have been approximately USD 60 million, which reflect an increase of 15% year-over- year.
GAAP gross margin for the first quarter 2018 was 36.5% compared to 35.0% for the first quarter of 2017.
GAAP net income attributable to DASAN Zhone Solutions, Inc. in the first quarter 2018 was approximately USD 0.1 million or USD 0.01 per fully diluted share compared with net loss of USD 3.7 million or a loss of USD 0.23 per fully diluted share for the first quarter of 2017.