DASAN Zhone Solutions, Inc. (NASDAQ:DZSI) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 05:00 pm ET


DASAN Zhone Solutions, Inc. (NASDAQ:DZSI) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to DASAN Zhone Solutions Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now hand the conference over to Blair King.

Blair King

Well, good afternoon. Welcome to DZS's second quarter 2020 conference call. Joining us today, the Company's outgoing CEO, Yung Kim; our CFO, Tom Cancro; and our new President and CEO, Charlie Vogt.

Before we begin, I would like to provide the DZS Safe Harbor statement. During this call, management will provide projections and other forward looking statements regarding future events or the future financial performance of the Company. The Company cautions you that such statements are only current expectations and actual events or results may differ materially.

Please refer to documents that the Company files with the SEC, including its most recent 10-Q and 10-K reports and the forward-looking statement section of today's press release. These documents identify important risk factors that could cause actual results to differ materially from those contained in the Company's projections or forward-looking statements.

Please note that unless otherwise indicated, the financial metrics being provided to you on this call are determined on a non-GAAP basis. These items together with corresponding GAAP numbers and a reconciliation to GAAP are contained in today's press release, which has been posted on DZS's website and filed with the SEC on Form 8-K. Management will also discuss historical, financial and other statistical information regarding its business and operations. Some of this information is included in the press release and the remainder of the information will be available in a recorded version of this call on our website.

So with that, I'll now turn the call over to you Yung. Yung?

Yung Kim

Thank you, Blair. Good afternoon, everyone. Thank you for joining us today. As many of you know by now this is my last earnings call with the DZS. It has been an absolute honor leading DZS and being part of the Company's transformation into what it is today, a global provider of leading-edge access, 5G transport and enterprise communications platforms.

I can honestly say that I am leaving the Company in a position of strength and in the hands of a world-class leader Charlie Vogt, who was appointed on August 1 to the Company's Board of Directors and to his new role as President and CEO. Charlie is an industry trailblazer with a passion for driving exceptional operating performance. Charlie, I'm really excited to have you take the helm at the DZS and to hit the ground running. I know you will bring to bear your knowledge of the Company, our industry and your deep management experience particularly in driving change, transformation and growth.

Turning to our results. Today we reported the second quarter results that exceeded revenue, margin and adjusted EBITDA guidance, reflecting real progress in advancing our strategic and financial agenda with a near record backlog and year-over-year margin expansion in an operating environment that