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Aviat Networks, Inc. (NASDAQ: AVNW) is a leading global provider of microwave networking solutions, adept at transforming communications networks to accommodate the surging growth of IP-centric, multi-gigabit data services. With over 750,000 systems installed globally, Aviat Networks offers robust LTE-compatible microwave networking solutions to mobile operators, including some of the world's most advanced 4G/LTE networks. Public safety organizations, utility companies, government agencies, and defense organizations trust Aviat Networks for their mission-critical applications where reliability is non-negotiable.
The company's product portfolio includes point-to-point microwave and millimeter wave radios that operate in licensed, lightly licensed, and license-exempt frequencies. Additionally, Aviat provides advanced element and network management software, ensuring seamless network operations. Its comprehensive suite of localized professional and support services aids customers in effectively migrating to next-generation carrier Ethernet/IP networks.
In recent news, Aviat Networks secured orders exceeding $50 million from two U.S. state governments for statewide public safety networks, utilizing high-power microwave radios, high availability routers, and management software. These projects underscore Aviat's commitment to providing high-reliability solutions for critical infrastructure. Furthermore, the company reported significant financial growth, with total revenues for the fiscal 2024 first quarter reaching $87.6 million, a 7.8% increase from the previous year.
As of January 2024, Aviat announced a strategic collaboration with PT Smartfren Telecom Tbk to provide high-speed wireless connectivity and private networks across Indonesia, capitalizing on the anticipated $7.4 billion market for private LTE and 5G networks by 2027.
Founded over 70 years ago, Aviat Networks has sold more than one million systems in 170 countries, continuously delivering high-performance products and simplified operations. The company is headquartered in Austin, Texas, and remains at the forefront of microwave networking innovation, providing exceptional customer service and support.
Aviat Networks (NASDAQ: AVNW) reported fiscal 2025 second quarter results with total revenue of $118.2 million, up 26.2% year-over-year. The company achieved operating income of $8.0 million and non-GAAP operating income of $12.6 million.
Key highlights include record quarterly adjusted EBITDA of $14.8 million, Pasolink orders exceeding $35 million, and completion of the 18th consecutive quarter of trailing twelve-month revenue growth. North America revenue increased by 14.5% to $58.0 million, while International revenue grew 39.8% to $60.2 million.
The company maintained its fiscal 2025 full-year guidance with expected revenue between $430-$470 million and adjusted EBITDA between $30.0-$40.0 million. Cash and cash equivalents stood at $52.6 million, with net debt of $22.3 million after a $10 million reduction and repurchase of 34,600 shares during the quarter.
Aviat Networks (NASDAQ: AVNW) has appointed Scott Halliday to its Board of Directors, effective January 31, 2025. Halliday, who will serve as an independent director on the Audit Committee, brings 38 years of experience from EY (formerly Ernst & Young).
Halliday's extensive background includes serving as Chairman of EY's United Kingdom and Japan firms, and Director of EY Global, Americas, EMEIA and Japan boards, where he managed multibillion-dollar P&L operations. He played a key role in developing the Audit Firm Governance Code in both the UK and Japan, working with regulatory authorities.
His expertise includes advising boards of directors and audit committees at Global 500 companies, as well as international governments on trends, governance, and risk management. Chairman John Mutch highlighted Halliday's potential contribution to Aviat's strategy of growth, increased profitability, and shareholder value creation.
Aviat Networks (NASDAQ: AVNW) has announced it will release its fiscal 2025 second quarter financial results for the period ended December 27, 2024, on February 4, 2025, after market close. The company will host an earnings conference call and webcast at 5:00 p.m. ET on the same day.
President and CEO Pete Smith and CFO Michael Connaway will lead the conference call. Investors can access the call through Aviat's investor relations website or by telephone after registering online. A replay of the webcast will be available on the company's investor relations website after the call.
Aviat Networks (NASDAQ: AVNW) has announced enhanced cybersecurity measures through two key initiatives: the Secure Software Development Lifecycle (SSDLC) process and Software Vulnerability Alert (SVA) service. The SSDLC implements security at every stage of software development, utilizing third-party validation and following OWASP practices.
The SVA service will provide proactive notifications to customers about potential vulnerabilities identified through MITRE 's CVE database. The system performs nightly scans of ProVision and ProVision Plus Management software, promising to alert subscribed customers within 24 hours of detecting major or critical vulnerabilities, along with mitigation recommendations or software patches.
Aviat Networks (NASDAQ: AVNW), a leader in wireless transport and access solutions, has announced its participation in three major upcoming investor conferences in early 2025:
- The 27th Annual Needham Growth Conference - Virtual event on January 16, 2025
- The 10th Annual Oppenheimer Emerging Growth Conference - Virtual event on February 26, 2025
- The 37th Annual Roth Conference - In-person event in Dana Point, CA, from March 16-18, 2025
Interested investors can arrange meetings through their institutional representatives. All presentation materials will be accessible in the Investor Relations section of Aviat's website after each event.
Aviat Networks (NASDAQ: AVNW), a leader in wireless transport and access solutions, has announced its participation in two upcoming investor conferences. The company will attend the 18th Annual Needham Virtual Security, Networking, and Communications Conference on November 19, 2024, which will be held virtually, and the 13th Annual Roth Technology Conference on November 20, 2024, in New York, NY. Interested investors can arrange meetings through their institutional representatives. All presentation materials will be accessible in the Investor Relations section of Aviat's website after the events.
Aviat Networks (AVNW) reported fiscal 2025 first quarter results with total revenue of $88.4 million, up 1.7% year-over-year. The company posted a GAAP net loss of $(11.9) million, or $(0.94) per share, and adjusted EBITDA of $(7.7) million. North America revenue decreased by 23% to $42.2 million, while International revenue grew 44.1% to $46.2 million. Gross margin declined to 22.4% GAAP and 23.2% non-GAAP. The company updated its fiscal 2025 guidance, projecting revenue between $430-470 million and adjusted EBITDA between $30-40 million.
Aviat Networks (NASDAQ: AVNW) has scheduled its fiscal 2025 first quarter financial results announcement for November 5, 2024, after market close. The company will host an earnings conference call and webcast at 4:30 p.m. ET on the same day. President and CEO Pete Smith and CFO Michael Connaway will lead the call. Investors can access the conference through Aviat's investor relations website or via telephone after registering online. A replay will be available on the company's investor relations website after the call.
Aviat Networks (NASDAQ: AVNW) reported its fiscal 2024 fourth quarter and full-year financial results. Q4 highlights include:
- Total revenue of $116.7 million, up 28.1% year-over-year
- Adjusted EBITDA of $11.9 million
- Cash from operations of $8.3 million
Full-year highlights include:
- Total revenue of $408.1 million, up 18.5% from last year
- Adjusted EBITDA of $48.1 million
- GAAP net income of $10.8 million, or $0.86 per diluted share
The company achieved its 4th consecutive fiscal year of growth in both revenue and Adjusted EBITDA. Aviat also provided fiscal 2025 guidance, projecting revenue between $450-$490 million and Adjusted EBITDA between $46-$52 million.
Aviat Networks (NASDAQ: AVNW) has announced a delay in filing its Form 10-K for fiscal year 2024, citing the need for additional time to finalize its assessment of internal control over financial reporting. The company has identified material weaknesses in its internal controls and is implementing measures to address them. Aviat also disclosed potential errors in previously reported financial information for fiscal years 2024 and 2023, which are under evaluation.
Preliminary estimates for FY2024 show:
- Revenue between $400-$409 million (up from $347 million in FY2023)
- Operating income between $15-$20 million (down from $26 million in FY2023)
- Net income between $8-$12 million (down from $12 million in FY2023)
- Cash and cash equivalents of approximately $65 million (up from $22 million in FY2023)
- Total outstanding debt of approximately $48 million (up from $0 in FY2023)
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