RBBN - Ribbon Communications stock slides to near 2-year low on weak Q4 results

Ribbon Communications (RBBN -20.4%) stock slid to its lowest since May 19, 2020 after the company posted weak Q4 results. Q4 non-GAAP EPS was $0.01 vs. $0.18 in the year-ago period. Revenue fell 5.3% Y/Y to $231M. Sales in Q4 were impacted by ~$10M of shipments moving into 2022 due to supply chain-related constraints.  "While 2021 financial results did not meet our expectations... We had several new wins with major carriers that we expect to begin to contribute in H2 2022. In 2022, we project 10%+ revenue growth in IP Optical Networks," said CEO Bruce McClelland. In a post-earnings call, he said extended COVID challenges, supply chain issues, heightened employee attrition and regional headwinds in areas like India impacted 2021 results. Q1 non-GAAP loss per share is expected to be $0.10-0.07, vs. EPS of $0.03 in Q1 2021. RBBN projects Q1 revenue of $165M-180M (vs. $193M in Q1 2021).  2022 non-GAAP EPS is estimated

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Ribbon Communications stock slides to near 2-year low on weak Q4 results