Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real-time communications software and IP optical transport solutions to service providers, enterprises, and critical infrastructure sectors, today announced its financial results for the third quarter of 2021.
For the first nine months of 2021, sales increased by 2%, Adjusted EBITDA increased 14% and Non-GAAP diluted earnings per share increased 29% versus 2020 (GAAP loss per share increased by $0.291). Revenue for the third quarter of 2021 was $210 million, impacted by approximately $9.5 million related to supply chain constraints in the quarter.
“We’re excited by our recent IP Optical Networks wins and growth prospects as our funnel of opportunities strengthen and benefit from the breadth of existing Ribbon relationships with customers,” noted Bruce McClelland, President and Chief Executive Officer of Ribbon Communications. “We believe these customer wins, along with accelerating investments in fiber networks and 5G technology, position Ribbon for strong growth in 2022 and beyond. While revenues this quarter were impacted by supply chain constraints, we believe our IP Optical product book to revenue ratio of 1.17 times demonstrates growing demand.”