Aviat Networks, Inc. - AVNW STOCK NEWS

Aviat Networks, Inc. (NASDAQ: AVNW) announced its participation in the 7th Annual Oppenheimer Emerging Growth Conference on May 10, 2022. CEO Pete Smith and CFO David Gray will engage in virtual 1-on-1 meetings throughout the day. Investors interested in meetings should contact their Oppenheimer representative. With over one million systems sold globally, Aviat specializes in wireless transport solutions and supports clients across 170 countries, including government and defense sectors. For more information, visit www.aviatnetworks.com.

Aviat Networks reported total revenue of $74.5 million for Q3 fiscal 2022, marking a 12.2% year-over-year increase. GAAP income before tax rose by 75.5% to $7.3 million, while adjusted EBITDA increased by 29.2% to $9.5 million. North America revenue surged 16.7% to $49.0 million, although international revenue grew modestly by 4.5% to $25.5 million. Gross margins decreased slightly due to supply chain challenges but improved by 80 bps from the previous quarter. The company maintained a strong balance sheet with $33.8 million in cash and no loans outstanding.

Aviat Networks (NASDAQ: AVNW) announced it will release its third quarter fiscal 2022 results for the period ending April 1, 2022, on May 4, 2022, after market close. An earnings conference call will follow at 5:00 p.m. ET, featuring key executives including the CEO and CFO. This call aims to discuss financial and operational results. Interested parties can access the call via the company's Investor Relations website. Aviat Networks specializes in wireless transport solutions and has sold over one million systems in 170 countries.

Aviat Networks (AVNW) announced the acquisition of Redline Communications for CAD$0.90 per share, totaling approximately CAD$16.2 million. This all-cash transaction aims to enhance Aviat's portfolio in private LTE/5G and wireless access solutions, targeting an $8 billion market. The acquisition is expected to increase gross margin, adjusted EBITDA, non-GAAP EPS, and free cash flow in the first year. The deal is subject to customary regulatory approvals and closing conditions, with completion anticipated within four months.

Aviat Networks (NASDAQ: AVNW) has launched its new Health Assurance Software (HAS) aimed at enhancing network performance and reducing operational costs. HAS continuously analyzes and identifies potential network issues proactively, thereby preventing traffic disruptions. This software builds on Aviat's existing Frequency Assurance Software, facilitating easier network management with a user-friendly interface. The solution is available for purchase through Aviat's online store and provides a private cloud service option, signifying a significant step in operational efficiency for network operators.

Aviat Networks (NASDAQ: AVNW) announced that Quickline Communications, a major UK wireless Internet service provider, has chosen Aviat Multi-Band radios to enhance its network capacity to 10 Gbps over extended distances. Due to subscriber growth, Quickline faced challenges with existing microwave links. The WTM 4800, a unique single box solution, simplifies installation and reduces costs while improving reliability. This partnership exemplifies Aviat's commitment to providing innovative wireless transport solutions, bridging the gap in reliable internet access.

Aviat Networks (NASDAQ: AVNW) has appointed Bruce Taten to its board of directors, bringing extensive legal and compliance expertise. Taten, a former senior executive at Cooper Industries and vice president at Nabors Industries, will aid in the company's growth strategy, emphasizing environmental, social, and governance (ESG) matters, mergers, acquisitions, and public compliance. Taten holds credentials from the Sustainability Accounting Standards Board and degrees from Georgetown and Vanderbilt Universities. His appointment signals Aviat’s commitment to enhancing shareholder value.

Aviat Networks (NASDAQ: AVNW) announced its participation in the 34th Annual Roth Conference on March 14-15, 2022. CEO Pete Smith and CFO David Gray will engage in 1-on-1 meetings, fireside chats, and thematic panels alongside executives from about 400 companies across sectors like Technology, Sustainability, and Healthcare. Interested parties can arrange meetings by contacting the Roth sales team. Aviat Networks specializes in wireless transport solutions, serving over one million systems across 170 countries, focusing on simplifying network operations for various customers.

Aviat Networks reported its fiscal 2022 second quarter results, achieving total revenues of $77.9 million, a 10.4% increase year-over-year. North America contributed $51.0 million (+3.8%), while international revenues surged to $26.8 million (+25.5%). GAAP net income reached $5.9 million with net income per share at $0.49. Adjusted EBITDA was stable at $10.1 million. Despite challenges in gross margins and operating expenses rising by 4.4%, the company successfully launched its Multiband XD product, enhancing its competitive positioning in the market.