Welcome to our dedicated page for Aviat Networks news (Ticker: AVNW), a resource for investors and traders seeking the latest updates and insights on Aviat Networks stock.
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, Inc. (NASDAQ: AVNW) has announced a new stock repurchase program, allowing for the purchase of up to $10 million of its common stock. This follows an earlier program that utilized $7.5 million. The buyback will occur under authorized Rule 10b5-1 plans and other methods compliant with federal securities laws. As of October 31, 2021, Aviat had 11.2 million shares outstanding. The company aims to enhance shareholder value through this initiative, while retaining the flexibility to suspend or terminate the program at any time.
Aviat Networks (NASDAQ: AVNW) announced the launch of MB-XD, enhancing its WTM 4800 Multi-Band product line. This innovation extends 10 Gbps link distances up to 20 km, catering to 5G and rural broadband needs. MB-XD significantly reduces total cost of ownership (TCO) by up to 90% compared to fiber options. The company's multi-band radios offer a unique alternative to traditional microwave solutions, helping operators manage high-capacity requirements and avoid expensive fiber installations. Aviat's leadership in this market segment is reinforced by the new product's capabilities.
Aviat Networks, a leader in wireless transport solutions, announced participation in the 10th Annual Roth Technology Event from November 16-18, 2021. Key executives, including CEO Pete Smith and CFO David Gray, will hold virtual one-on-one meetings on November 17 to engage with investors. Aviat Networks has delivered over one million systems in 170 countries, serving critical communications needs across various sectors. For inquiries regarding the event, interested parties can contact Roth representatives or email registration@roth.com.
Aviat Networks (NASDAQ: AVNW) has announced participation in the Needham Virtual Security, Networking, and Communications Conference on November 16, 2021. Executives, including Pete Smith, CEO, and David Gray, CFO, will host a virtual fireside chat at 3:00 PM EST and hold one-on-one meetings with investors. Aviat Networks specializes in wireless transport solutions and has over one million systems deployed in 170 countries, catering to communications service providers and government entities. For further details, contact your Needham Representative or email conferences@needhamco.com.
Aviat Networks reported a 10.4% year-over-year revenue increase to $73.2 million for Q1 fiscal 2022, driven by a 12% growth in North America. The company maintained a gross margin of 35.7% despite inflationary pressures. GAAP net income decreased to $4.7 million, or $0.39 per share, from $5.9 million in the same quarter last year. Non-GAAP net income improved to $8.1 million, or $0.67 per share. Aviat launched high availability routing software and is well-positioned in the rural broadband market, with significant engagement among RDOF winners.
Aviat Networks, Inc. (NASDAQ: AVNW) will release its first quarter fiscal 2022 earnings for the period ending October 1, 2021, on November 3, 2021, after market close. The Company will host a live conference call at 5:00 p.m. ET on the same day, featuring CEO Pete Smith, CFO David Gray, and VP Keith Fanneron. Dial-in information is provided for participants, and the call will be accessible via Aviat's Investor Relations website. The Company is known for its expertise in wireless transport solutions, with over one million systems deployed globally.
Aviat Networks (NASDAQ: AVNW) has appointed David M. Gray as its new Senior Vice President and Chief Financial Officer, effective immediately. He will work alongside departing CFO Eric Chang, who will stay in an advisory role. Gray has extensive experience as CFO at global manufacturers, including Superior Essex and Cooper Industries. CEO Pete Smith expressed confidence in Gray's ability to drive growth and affirmed the company's guidance issued on August 25, 2021, ahead of their next earnings call.
Aviat Networks (NASDAQ: AVNW) announced the launch of High Availability (HA) routing software for its CTR 8740 router, enhancing reliability for mission-critical networks. Unique features include dual independent chassis architecture, non-stop forwarding, and hitless software upgrades, mitigating risks of network downtime. The update also improves the ProVision Plus platform for easy network management. Orders are currently being accepted, with initial qualifications completed for a large public safety network in the western USA. This innovation aims to provide a cost-effective and secure routing solution in a competitive market.
Aviat Networks (NASDAQ: AVNW) announced a Board Refreshment Program aimed at driving growth by electing two new director nominees, Bryan Ingram and Somesh Singh, at the 2021 Annual Meeting. Ingram brings 35 years of technology experience from Broadcom, while Singh has over 30 years in product management. The company’s current board members will see the exit of Dahlia Loeb, Ken Kong, and John Quicke, all of whom contributed to Aviat's recent profitability. This strategic move is part of enhancing technical expertise to align with growing 5G demands.
Aviat Networks reported strong results for Q4 and fiscal year 2021, with revenues of $71.7 million, up 14.4% year-over-year. North America led growth with a 21.4% increase, while international sales rose by 3.5%. The company achieved a GAAP gross margin of 36.1% and a net income of $2.8 million, or $0.24 per share. Over the year, total revenues reached $274.9 million, a 15.2% increase from 2020. Aviat anticipates fiscal 2022 revenues between $283 million and $293 million and aims for an Adjusted EBITDA of $35 million to $38 million, reflecting ongoing strategic growth initiatives.
FAQ
What is the current stock price of Aviat Networks (AVNW)?
What is the market cap of Aviat Networks (AVNW)?
What does Aviat Networks, Inc. do?
Where is Aviat Networks headquartered?
What recent achievements has Aviat Networks accomplished?
What are some of Aviat Networks' core products?
Who are Aviat Networks' primary customers?
What is the significance of Aviat Networks' collaboration with PT Smartfren Telecom Tbk?
How long has Aviat Networks been in business?
What is Aviat Networks' approach to customer support?
How many systems has Aviat Networks installed globally?
What financial performance did Aviat Networks report for the fiscal 2024 first quarter?
