Zhone Technologies (ZHNE) Announces Quarterly Earnings, Meets Expectations
Zhone Technologies (NASDAQ:ZHNE) issued its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01, American Banking News reports. The company had revenue of $28.60 million for the quarter, compared to the consensus estimate of $29.25 million.
Zhone Technologies (NASDAQ:ZHNE) traded up 4.26% on Tuesday, hitting $4.16. 427,657 shares of the company’s stock traded hands. Zhone Technologies has a one year low of $0.77 and a one year high of $6.62. The stock’s 50-day moving average is $4.1 and its 200-day moving average is $4.38. The company has a market cap of $134.4 million and a P/E ratio of 30.69.
On a related note, analysts at Sidoti initiated coverage on shares of Zhone Technologies in a research note on Friday, April 4th. They set a “buy” rating on the stock.
Zhone Technologies Inc (NASDAQ:ZHNE) designs, develops and manufactures communications networks equipment for telecommunications, wireless and cable operators worldwide.
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