Aviat Networks, Inc. - AVNW STOCK NEWS

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.

Aviat Networks, a leader in wireless transport solutions, announced participation in the Jefferies Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit on August 31, 2021. Key executives, including CEO Pete Smith, CFO Eric Chang, and VP Keith Fanneron, will hold one-on-one meetings at the event. With over one million systems sold globally, Aviat is trusted by various sectors, including government and defense, providing comprehensive support services and high-performance products.

Aviat Networks (NASDAQ: AVNW) announced it will release its fourth quarter fiscal 2021 and full year financial results for the period ending July 2, 2021, on August 25, 2021. The results will be disclosed after the market closes. A conference call to discuss the financials will take place at 5:00 p.m. ET on the same day. Key executives, including Pete Smith and Eric Chang, will participate in the call. Interested parties can access the live call via Aviat's Investor Relations website.

Aviat Networks was added to the US small-cap Russell 2000 Index, effective June 28, 2021, as part of the annual Russell indexes reconstitution. This inclusion is anticipated to enhance the company's visibility among institutional investors, as Russell indexes are benchmarked by approximately $10.6 trillion in assets. Aviat's VP of Global Finance, Keith Fanneron, expressed optimism about the benefits of increased exposure for the company's strategic and financial plans.

Jack Nathan Medical Corp. (JNH, JNHMF) has appointed Michael A. Pangia as a strategic advisor to enhance business expansion and financial flexibility. Pangia, with over 25 years of experience in executive roles, will work alongside the leadership team to support strategic initiatives and establish new capital market relationships. Jack Nathan Health has expanded its clinic network in Canada and Mexico, with more openings anticipated. The company aims to leverage Pangia's expertise to drive growth amidst challenges posed by the global pandemic.

Aviat Networks (NASDAQ: AVNW) announced its participation in the 7th Annual Roth Virtual London Conference from June 21-23, 2021. Key executives, including Pete Smith, Eric Chang, and Keith Fanneron, are set to engage in virtual one-on-one meetings with investors on June 21 and 22. The event aims to connect the company with potential investors. Aviat Networks, a leader in wireless transport solutions, delivers reliable products and services globally, supporting critical applications for various sectors.