Ribbon Communications Inc. (NASDAQ:RBBN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 04:30 pm ET


Ribbon Communications Inc. (NASDAQ:RBBN) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Ribbon Communications Second Quarter 2020 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Monica Gould, Investor Relations. Thank you. You may begin.

Monica Gould

Good afternoon and welcome to Ribbon's second quarter 2020 financial results conference call. I'm Monica Gould, Investor Relations for Ribbon Communications. Also on the call today will be Bruce McClelland, Ribbon's Chief Executive Officer; and Mick Lopez, Ribbon's Chief Financial Officer. Today's call is being webcast live and will be archived on the Investor Relations section of our website at ribboncommunications.com, where both our press release and our supplemental data are currently available.

Certain matters we will be discussing today, including the business outlook, financial projections for the third quarter 2020, and the proposed sale of the Kandy Communications business are forward-looking statements. Such statements are subject to the risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. These risks and uncertainties are discussed in our documents filed with the SEC, including our most recent Form 10-K, and Form 10-Q. I refer you to our safe harbor statement included on Slides 2 and 3 of the supplemental slides for this conference call.

In addition, we will present non-GAAP financial information on this call. Reconciliations to the applicable GAAP measure are included in the earnings press release we issued this afternoon, as well as the supplemental slides for this conference call, which again are both available on the investor relations section of our website. Finally, as you will recall, we completed our acquisition of ECI Telecom on March 3, 2020, which impacts comparisons to prior periods. Statements about Ribbon's organic business, Ribbon's standalone, cloud and edge, and organic revenue growth referred to the business and financial results of Ribbon Communications, excluding the ECI business.

References to pack at optical network relates to the ECI business. Overall Ribbon or total company results are consolidated results and include the results for ECI from acquisition date. Ribbon operates as a single segment. However, for the sake of clarity, we are including additional detail on the former ECI Telecom business performance. As they continue to integrate, we will transition to providing business unit performance rather than legal entity financials.

And now, I would like to turn the call over to Bruce.

Bruce McClelland

Thank you, Monica. And thank you, everyone for joining us today. We're very pleased with our performance in the second quarter as we navigate this challenging time. Before we go through the details of our second quarter performance and talk about our outlook for the second half of the year, I'd like to make a few comments on the announcement we made today relative to our Kandy Advanced Communications business. As part of the portfolio assessment that I've been doing since joining earlier this