DZS reports Q2 EPS (28c) vs. (35c) last year

Reports Q2 revenue $31M vs. $31M last year. “The second quarter of 2024 represented a defining period for DZS,” said Charlie Vogt, President and CEO, DZS. “Foremost, we are now current with all restated and delayed Form 10-Q and 10-K filings with the SEC through Q2 2024. From a sales and financial performance perspective, we continue to make progress with our key priorities of 1) creating high-quality, differentiated broadband access solutions for our valued customers, 2) delivering product on-time, 3) optimizing our cost structure and 4) monetizing $75 million of paid inventory. The divestiture of our Asia business in April of this year has enabled us to focus on the North America, Europe, Middle East, Africa, Australia and New Zealand regions and is expected to improve our gross margin. Our acquisition of NetComm in June is expected to be an accretive transaction. We are already experiencing positive cross-selling sales synergy, and we expect the second half of 2024 and 2025 to yield positive sales and inventory conversion results. On Thursday, Sept. 5th at 10:00 a.m. CDT, we will provide a fulsome report that will give customers, suppliers, investors and employees insights relative to what has been accomplished over the past 15 months and our outlook for the future.”