Ribbon Communications Inc. (NASDAQ:RBBN) Q1 2023 Earnings Call Transcript

Gregory Mesniaeff: Got it. Got it. Now turning to Cloud & Edge. It looks like the weakest sort of component of your sales profile there is to the AT&Ts and Verizons of the world. Can you comment on that as far as what you’re seeing? I know that business is lumpy and it could turn around and become a major boost as well. So — if you could just give us some color on that?

Bruce McClelland: Yes, Greg, that’s exactly right. These are kind of big projects that go through a 2- or 3-quarter progression to go to completion, where we’re helping modernize the voice infrastructure, replacing a lot of legacy equipment, putting in a lot of software. And the timing of those projects can move revenue and profit around quite a bit. As I mentioned, we had a really strong quarter a year ago in the second quarter with that network transformation business, very, very strong quarter. And the timing on that looks a little later this year. It’s not as prominent in the second quarter. And so, we’ve reduced expectations around that for the quarter, but we do expect projects in the second half of the year.

Operator: . If there are no further questions at this time. I’d like to turn the floor back over to Bruce McClelland for any closing comments.

Bruce McClelland: Okay. Great. Well, thanks again for being on the call this afternoon and your interest in Ribbon Communications. We look forward to speaking with many of you in the upcoming investor conferences over the next couple of months. Operator, thank you as well, and that concludes our call.

Operator: . This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.