Ceragon Reports 18.3% Increase in Quarterly Revenue, GAAP EPS of $0.04 Per Share in the Fourth Quarter
Ceragon Networks (NASDAQ: CRNT) reported strong Q4 2024 financial results with revenues of $106.9 million, up 18.3% year-over-year, marking the highest quarterly revenue since Q4 2014. The company achieved GAAP net income of $3.6 million ($0.04 per diluted share) compared to a loss of $1.2 million in Q4 2023.
For the full year 2024, Ceragon posted revenues of $394.2 million, up 13.5% from 2023, reaching the highest level since 2012. The company achieved record GAAP operating income of $38.7 million and net income of $24.1 million ($0.27 per diluted share).
Notable highlights include record quarterly revenues in India, improved bookings in North America, and strong performance in APAC. For 2025, management expects revenue between $390-430 million with Non-GAAP operating margins of at least 10% at the low end of this range.
Ceragon Networks (NASDAQ: CRNT) ha riportato solidi risultati finanziari per il quarto trimestre del 2024, con ricavi di $106,9 milioni, in aumento del 18,3% rispetto all'anno precedente, segnando il più alto fatturato trimestrale dal quarto trimestre del 2014. L'azienda ha raggunto un utile netto GAAP di $3,6 milioni ($0,04 per azione diluita), rispetto a una perdita di $1,2 milioni nel quarto trimestre del 2023.
Per l'intero anno 2024, Ceragon ha registrato ricavi di $394,2 milioni, in aumento del 13,5% rispetto al 2023, raggiungendo il livello più alto dal 2012. L'azienda ha ottenuto un utile operativo GAAP record di $38,7 milioni e un utile netto di $24,1 milioni ($0,27 per azione diluita).
I punti salienti includono ricavi trimestrali record in India, miglioramenti nelle prenotazioni in Nord America e una forte performance nell'APAC. Per il 2025, la direzione prevede ricavi tra $390 e $430 milioni con margini operativi Non-GAAP di almeno il 10% al limite inferiore di questo intervallo.
Ceragon Networks (NASDAQ: CRNT) reportó sólidos resultados financieros en el cuarto trimestre de 2024, con ingresos de $106.9 millones, un aumento del 18.3% interanual, marcando el ingreso trimestral más alto desde el cuarto trimestre de 2014. La compañía logró un ingreso neto GAAP de $3.6 millones ($0.04 por acción diluida) en comparación con una pérdida de $1.2 millones en el cuarto trimestre de 2023.
Para todo el año 2024, Ceragon reportó ingresos de $394.2 millones, un incremento del 13.5% respecto a 2023, alcanzando su nivel más alto desde 2012. La empresa obtuvo un ingreso operativo GAAP récord de $38.7 millones y un ingreso neto de $24.1 millones ($0.27 por acción diluida).
Los puntos destacados incluyen ingresos trimestrales récord en India, mejoras en las reservas en América del Norte y un sólido rendimiento en APAC. Para 2025, la dirección espera ingresos entre $390 y $430 millones con márgenes operativos No-GAAP de al menos el 10% en el extremo inferior de este rango.
세라곤 네트웍스 (NASDAQ: CRNT)는 2024년 4분기 재무 결과를 발표하며, 수익이 1억 6천 9백만 달러로 전년 대비 18.3% 증가했으며, 2014년 4분기 이후로 가장 높은 분기 수익을 기록했습니다. 이 회사는 GAAP 기준 순이익 360만 달러 ($0.04 주당) 을 달성했으며, 2023년 4분기 120만 달러 손실과 비교됩니다.
2024년 전체 연도에 대해, 세라곤은 3억 9천 4백 20만 달러의 수익을 기록하였으며, 이는 2023년 대비 13.5% 증가한 수치입니다. 이는 2012년 이후 가장 높은 수준입니다. 이 회사는 GAAP 기준 운영 수익 3천 8백 70만 달러와 순수익 2천 4백 10만 달러 ($0.27 주당)의 기록을 세웠습니다.
주요 하이라이트로는 인도에서의 분기 수익 기록, 북미에서의 예약 개선, 아시아 태평양 지역의 강력한 성과가 있습니다. 2025년을 위해 경영진은 수익이 3억 9천에서 4억 3천만 달러 사이로 예상하고 있으며, 이 범위의 하한에서 Non-GAAP 운영 마진이 최소 10%에 이를 것으로 기대하고 있습니다.
Ceragon Networks (NASDAQ: CRNT) a annoncé de solides résultats financiers pour le quatrième trimestre de 2024, avec des revenus de 106,9 millions de dollars, en hausse de 18,3 % par rapport à l'année précédente, marquant le chiffre d'affaires trimestriel le plus élevé depuis le quatrième trimestre de 2014. L'entreprise a atteint un bénéfice net GAAP de 3,6 millions de dollars (0,04 $ par action diluée) par rapport à une perte de 1,2 million de dollars au quatrième trimestre de 2023.
Pour l'année complète 2024, Ceragon a enregistré des revenus de 394,2 millions de dollars, en hausse de 13,5 % par rapport à 2023, atteignant le niveau le plus élevé depuis 2012. L'entreprise a obtenu un bénéfice d'exploitation GAAP record de 38,7 millions de dollars et un bénéfice net de 24,1 millions de dollars (0,27 $ par action diluée).
Les faits marquants incluent des revenus trimestriels record en Inde, une amélioration des réservations en Amérique du Nord et une performance solide dans la région APAC. Pour 2025, la direction prévoit des revenus entre 390 et 430 millions de dollars avec des marges d'exploitation Non-GAAP d'au moins 10 % à l'extrémité inférieure de cette fourchette.
Ceragon Networks (NASDAQ: CRNT) berichtete über starke Finanzergebnisse für das vierte Quartal 2024 mit Einnahmen von 106,9 Millionen US-Dollar, was einem Anstieg von 18,3 % im Vergleich zum Vorjahr entspricht und die höchsten vierteljährlichen Einnahmen seit dem vierten Quartal 2014 markiert. Das Unternehmen erzielte einen GAAP-Nettogewinn von 3,6 Millionen US-Dollar (0,04 US-Dollar pro verwässerter Aktie), verglichen mit einem Verlust von 1,2 Millionen US-Dollar im vierten Quartal 2023.
Für das Gesamtjahr 2024 verzeichnete Ceragon Einnahmen von 394,2 Millionen US-Dollar, was einem Anstieg von 13,5 % im Vergleich zu 2023 entspricht und das höchste Niveau seit 2012 erreicht. Das Unternehmen erzielte einen Rekord-GAAP-Betriebsgewinn von 38,7 Millionen US-Dollar und einen Nettogewinn von 24,1 Millionen US-Dollar (0,27 US-Dollar pro verwässerter Aktie).
Zu den bemerkenswerten Highlights gehören Rekordquartalseinnahmen in Indien, verbesserte Buchungen in Nordamerika und starke Leistungen in der APAC-Region. Für 2025 erwartet das Management Einnahmen zwischen 390 und 430 Millionen US-Dollar mit einem Non-GAAP-Betriebsgewinnmargen von mindestens 10 % am unteren Ende dieser Bandbreite.
- Revenue increased 18.3% YoY to $106.9M in Q4 2024
- Full-year 2024 revenue grew 13.5% to $394.2M
- Record GAAP operating income of $38.7M for FY 2024
- Net income improved to $24.1M in 2024 from $6.2M in 2023
- Cash position strengthened to $35.3M from $28.2M YoY
- Slight decline in gross margins to 34.0% in Q4 2024 from 34.4% in Q4 2023
- near-term visibility in core markets
- Sequential decrease in Q4 operating income to $9.5M from $14.6M in Q3
Insights
The Q4 2024 results demonstrate Ceragon's successful execution of its growth and profitability strategy. The
Several key factors underscore the company's strengthening market position:
- Geographic Diversification: While India remains the largest market at
52% of revenue, the company has achieved balanced growth across regions, with improved bookings in North America and strong performance in APAC. - Operational Excellence: The improvement in GAAP operating income from
$4.2 million to$9.5 million YoY reflects successful cost management and operational efficiency initiatives. - Balance Sheet Strength: Cash position improved to
$35.3 million from$28.2 million YoY, while reducing short-term loans by$7.4 million .
The 2025 guidance of
Revenue Diversification, Expense Management, Enable Consistent Profitability
ROSH HA'
Q4 2024 Financial Highlights:
- Revenues of
$106.9 million 18.3% from$90.4 million - Operating income of
$9.5 million $12.2 million - Net Income of
$3.6 million $7.7 million - EPS of
$0.04 $0.09
FY 2024 Financial Highlights:
- Revenues of
$394.2 million 13.5% year-over-year, in-line with full-year guidance and the highest level since 2012 - Record Operating income of
$38.7 million $48.8 million - Net income of
$24.1 million $36.4 million - EPS of
$0.27 $0.41
Q4 2024 Business Highlights:
India : all-time record quarterly revenues.- Improving visibility in
India as commercial terms for 2025 with two major customers are being finalized - New IP-50EXA product, including features that have been requested by existing customers in
India and other markets, expected to be delivered in the second half of 2025 - Pricing and operational efficiency providing advantages vs. competitors
North America : Bookings increased sequentially compared to the third quarter- Improved bookings from
North America and primarily tier-1 service providers offset delays from private network customers - Strong quarter in APAC, winning business that included Siklu by Ceragon products
"This was a record year for Ceragon, achieving record operating profit on the highest revenue levels since 2012, while continuing to execute our growth strategy," commented Doron Arazi, Ceragon's Chief Executive Officer. "We expanded our presence in the key market of
Arazi concluded, "While near-term visibility across the industry is limited, especially regarding order timing within our core markets from tier-one service providers, we remain cautiously optimistic that 2025 may eventually be a year of growth and improved profitability as we see initial recovery signs in the CSP market, reported by RAN and fiber vendors and as we execute our plans to further increase our market share in private networks."
Primary Fourth Quarter 2024 Financial Results:
Revenues were
GAAP Gross profit was
GAAP Operating income was
GAAP Net income (loss) was
Non-GAAP results were as follows: Gross margin was
Primary Full-Year 2024 Financial Results:
Revenues were
GAAP Gross profit was
GAAP Operating income was a record
GAAP Net income was
Non-GAAP results were as follows: Gross margin was
Balance Sheet
Cash and cash equivalents were
For a reconciliation of GAAP to non-GAAP results, see the attached tables.
Revenue Breakout by Geography:
Q4 2024 | |
52 % | |
EMEA | 15 % |
12 % | |
APAC | 11 % |
10 % |
Outlook
For 2025, management expects revenue between
Conference Call
The Company will host a Zoom web conference today at 8:30 a.m. ET to discuss the results, followed by a question-and-answer session for the investment community. Recent geopolitical events could impact the live question and answer session. In this unlikely event, management's prepared remarks will be pre-recorded, and the question and answer session would be rescheduled.
The Company will host a Zoom conference call on the same day at 8:30 a.m. ET to discuss the results, followed by a question-and-answer session for the investment community. Investors are invited to register by clicking here. All relevant information will be sent upon registration.
If you are unable to join the live call, a replay will be available on our website at www.ceragon.com within 24 hours after the call.
About Ceragon
Ceragon (NASDAQ: CRNT) is the global innovator and leading solutions provider of end-to-end wireless connectivity, specializing in transport, access, and AI-powered managed & professional services. Through our commitment to excellence, we empower customers to elevate operational efficiency and enrich the quality of experience for their end users.
Our customers include service providers, utilities, public safety organizations, government agencies, energy companies, and more, who rely on our wireless expertise and cutting-edge solutions for 5G & 4G broadband wireless connectivity, mission-critical services, and an array of applications that harness our ultra-high reliability and speed. Ceragon solutions are deployed by more than 600 service providers, as well as more than 1,600 private network owners, in more than 130 countries.
Through our innovative, end-to-end solutions, covering hardware, software, and managed & professional services, we enable our customers to embrace the future of wireless technology with confidence, shaping the next generation of connectivity and service delivery. Ceragon delivers extremely reliable, fast to deploy, high-capacity wireless solutions for a wide range of communication network use cases, optimized to lower TCO through minimal use of spectrum, power, real estate, and labor resources - driving simple, quick, and cost-effective network modernization and positioning Ceragon as a leading solutions provider for the "connectivity everywhere" era.
For more information please visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in
Safe Harbor
This press release contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon's management about Ceragon's business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability, growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as "may", "plans", "anticipates", "believes", "estimates", "targets", "expects", "intends", "potential" or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
Although we believe that the 1projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations therefrom will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon's future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the effects of the evolving nature of the war situation in
We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Ceragon does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.
While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Ceragon's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Ceragon does not assume any obligation to update any forward-looking statements unless required by law.
The results reported in this press-release are preliminary and unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors.
Ceragon's public filings are available on the Securities and Exchange Commission's website at www.sec.gov and may also be obtained from Ceragon's website at www.ceragon.com.
Logo: https://mma.prnewswire.com/media/1704355/Ceragon_Networks_Ltd_Logo.jpg
Ceragon Investor & Media Contact:
Rob Fink
FNK IR
Tel.: +1-646-809-4048
crnt@fnkir.com
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (
| ||||||
Three months ended | Year ended | |||||
December 31, | December 31, | |||||
2024 | 2023 | 2024 | 2023 | |||
Revenues | 106,932 | 90,359 | 394,190 | 347,179 | ||
Cost of revenues | 70,550 | 59,296 | 257,339 | 227,310 | ||
Gross profit | 36,382 | 31,063 | 136,851 | 119,869 | ||
Operating expenses: | ||||||
Research and development, net | 8,969 | 9,070 | 34,951 | 32,274 | ||
Sales and Marketing | 11,077 | 10,544 | 44,717 | 40,577 | ||
General and administrative | 5,374 | 6,445 | 14,220 | 23,793 | ||
Restructuring and related charges | - | - | 1,416 | 897 | ||
Acquisition- and integration-related charges | 283 | 835 | 1,660 | 1,118 | ||
Other operating expenses | 1,160 | - | 1,160 | - | ||
Total operating expenses | 26,863 | 26,894 | 98,124 | 98,659 | ||
Operating income | 9,519 | 4,169 | 38,727 | 21,210 | ||
Financial expenses and others, net | 4,863 | 3,402 | 11,474 | 8,468 | ||
Income before taxes | 4,656 | 767 | 27,253 | 12,742 | ||
Taxes on income | 1,046 | 1,970 | 3,190 | 6,522 | ||
Net income (loss) | 3,610 | (1,203) | 24,063 | 6,220 | ||
Basic net income (loss) per share | 0.04 | (0.01) | 0.28 | 0.07 | ||
Diluted net income (loss) per share | 0.04 | (0.01) | 0.27 | 0.07 | ||
Weighted average number of shares used in computing basic net income (loss) per share | 87,207,634 | 85,054,173 | 86,191,178 | 84,617,774 | ||
Weighted average number of shares used in computing diluted net income (loss) per share | 89,987,560 | 85,054,173 | 88,460,001 | 85,482,626 | ||
CONDENSED CONSOLIDATED BALANCE SHEETS (
| ||
December 31, | December 31, | |
2024 | 2023 | |
ASSETS | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | 35,311 | 28,237 |
Trade receivables, net | 149,619 | 104,321 |
Inventories | 59,693 | 68,811 |
Other accounts receivable and prepaid expenses | 16,415 | 16,571 |
Total current assets | 261,038 | 217,940 |
NON-CURRENT ASSETS: | ||
Severance pay and pension fund | 4,915 | 4,985 |
Property and equipment, net | 36,764 | 30,659 |
Operating lease right-of-use assets | 16,702 | 18,837 |
Intangible assets, net | 16,791 | 16,401 |
Goodwill | 7,749 | 7,749 |
Other non-current assets | 1,037 | 1,954 |
Total non-current assets | 83,958 | 80,585 |
Total assets | 344,996 | 298,525 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
CURRENT LIABILITIES: | ||
Trade payables | 91,157 | 67,032 |
Deferred revenues | 2,573 | 5,507 |
Short-term loans | 25,200 | 32,600 |
Operating lease liabilities | 2,971 | 3,889 |
Other accounts payable and accrued expenses | 29,547 | 23,925 |
Total current liabilities | 151,448 | 132,953 |
LONG-TERM LIABILITIES: | ||
Accrued severance pay and pension | 8,359 | 9,399 |
Deferred revenues | - | 670 |
Operating lease liabilities | 12,936 | 13,716 |
Other long-term payables | 5,928 | 7,768 |
Total long-term liabilities | 27,223 | 31,553 |
SHAREHOLDERS' EQUITY: | ||
Share capital | 224 | 224 |
Additional paid-in capital | 447,377 | 437,161 |
Treasury shares at cost | (20,091) | (20,091) |
Other comprehensive loss | (10,060) | (8,087) |
Accumulated deficit | (251,125) | (275,188) |
Total shareholders' equity | 166,325 | 134,019 |
Total liabilities and shareholders' equity | 344,996 | 298,525 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (
| ||||
Three months ended | Year ended | |||
December 31, | December 31, | |||
2024 | 2023 | 2024 | 2023 | |
Cash flow from operating activities: | ||||
Net income (loss) | 3,610 | (1,203) | 24,063 | 6,220 |
Adjustments to reconcile net income (loss) to | ||||
Depreciation and amortization | 3,251 | 2,466 | 12,112 | 9,967 |
Loss from sale of property and equipment, net | 38 | - | 207 | 61 |
Stock-based compensation expense | 921 | 938 | 4,298 | 3,964 |
Decrease (increase) in accrued severance pay and pensions, net | (239) | 88 | (970) | (267) |
Decrease (increase) in trade receivables, net | (28,437) | 1,856 | (46,224) | (2,370) |
Decrease in other assets (including other accounts | 3,656 | 15,085 | 1,344 | 16,994 |
Decrease (increase) in inventory | (309) | 4,681 | 7,606 | 6,303 |
Decrease in operating lease right-of-use assets | 939 | 794 | 4,632 | 3,781 |
Increase (decrease) in trade payables | 15,291 | (1,121) | 23,032 | (1,847) |
Increase (decrease) in other accounts payable and | 3,549 | (2,720) | 3,898 | 1,677 |
Decrease in operating lease liability | (689) | (73) | (4,196) | (4,034) |
Decrease in deferred revenues | (452) | (9,830) | (3,604) | (9,562) |
Net cash provided by operating activities | 1,129 | 10,961 | 26,198 | 30,887 |
Cash flow from investing activities: | ||||
Purchases of property and equipment, net | (3,727) | (2,548) | (14,581) | (9,955) |
Software development costs capitalized | (645) | (661) | (1,883) | (2,944) |
Payments made in connection with business | - | (7,971) | - | (7,971) |
Net cash used in investing activities | (4,372) | (11,180) | (16,464) | (20,870) |
Cash flow from financing activities: | ||||
Proceeds from exercise of stock options | 5,071 | 9 | 5,878 | 39 |
Repayments of bank credits and loans, net | - | (5,600) | (7,400) | (4,900) |
Net cash provided by (used in) financing activities | 5,071 | (5,591) | (1,522) | (4,861) |
Effect of exchange rate changes on cash and cash equivalents | (531) | 81 | (1,138) | 133 |
Increase (decrease) in cash and cash equivalents | 1,297 | (5,729) | 7,074 | 5,289 |
Cash and cash equivalents at the beginning of the period | 34,014 | 33,966 | 28,237 | 22,948 |
Cash and cash equivalents at the end of the period | 35,311 | 28,237 | 35,311 | 28,237 |
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS ( | ||||
Three months ended December 31, | Year ended December 31, | |||
2024 | 2023 | 2024 | 2023 | |
GAAP Cost of revenues | 70,550 | 59,296 | 257,339 | 227,310 |
Stock-based compensation expenses | (121) | (115) | (495) | (485) |
Amortization of acquired intangible assets | (189) | (57) | (756) | (57) |
Excess cost on acquired inventory in business combination (*) | - | (525) | (124) | (525) |
Non-GAAP Cost of revenues | 70,240 | 58,599 | 255,964 | 226,243 |
GAAP Gross profit | 36,382 | 31,063 | 136,851 | 119,869 |
Stock-based compensation expenses | 121 | 115 | 495 | 485 |
Amortization of acquired intangible assets | 189 | 57 | 756 | 57 |
Excess cost on acquired inventory in business combination (*) | - | 525 | 124 | 525 |
Non-GAAP Gross profit | 36,692 | 31,760 | 138,226 | 120,936 |
GAAP Research and development expenses | 8,969 | 9,070 | 34,951 | 32,274 |
Stock-based compensation expenses | (192) | (156) | (701) | (828) |
Loss from termination of joint development agreement | - | (1,199) | - | (1,199) |
Non-GAAP Research and development expenses | 8,777 | 7,715 | 34,250 | 30,247 |
GAAP Sales and marketing expenses | 11,077 | 10,544 | 44,717 | 40,577 |
Stock-based compensation expenses | (332) | (320) | (1,356) | (1,416) |
Amortization of acquired intangible assets | (117) | (49) | (622) | (49) |
Non-GAAP Sales and marketing expenses | 10,628 | 10,175 | 42,739 | 39,112 |
GAAP General and administrative expenses | 5,374 | 6,445 | 14,220 | 23,793 |
Stock-based compensation expenses | (276) | (347) | (1,746) | (1,238) |
Non-GAAP General and administrative expenses | 5,098 | 6,098 | 12,474 | 22,555 |
GAAP Restructuring and related charges | - | - | 1,416 | 897 |
Restructuring and related charges | - | - | (1,416) | (897) |
Non-GAAP Restructuring and related charges | - | - | - | - |
GAAP Acquisition- and integration-related charges | 283 | 835 | 1,660 | 1,118 |
Acquisition- and integration-related charges | (283) | (835) | (1,660) | (1,118) |
Non-GAAP Acquisition- and integration-related charges | - | - | - | - |
GAAP Other operating expenses | 1,160 | - | 1,160 | - |
Other operating expenses | (1,160) | - | (1,160) | - |
Non-GAAP other operating expenses | - | - | - | - |
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS (
| |||||
Three months ended | Year ended | ||||
December 31, | December 31, | ||||
2024 | 2023 | 2024 | 2023 | ||
GAAP Operating income | 9,519 | 4,169 | 38,727 | 21,210 | |
Stock-based compensation expenses | 921 | 938 | 4,298 | 3,967 | |
Amortization of acquired intangible assets | 306 | 106 | 1,378 | 106 | |
Excess cost on acquired inventory in business combination (*) | - | 525 | 124 | 525 | |
Loss from termination of joint development agreement | - | 1,199 | - | 1,199 | |
Restructuring and other charges | - | - | 1,416 | 897 | |
Acquisition- and integration-related charges | 283 | 835 | 1,660 | 1,118 | |
Other operating expenses | 1,160 | - | 1,160 | - | |
Non-GAAP Operating income | 12,189 | 7,772 | 48,763 | 29,022 | |
GAAP Financial expenses and others, net | 4,863 | 3,402 | 11,474 | 8,468 | |
Leases – financial income (expenses) | 15 | (754) | (167) | 253 | |
Non-cash revaluation expenses associated with business combination | (1,385) | (110) | (1,703) | (110) | |
Non-GAAP Financial expenses and others, net | 3,493 | 2,538 | 9,604 | 8,611 | |
GAAP Tax expenses | 1,046 | 1,970 | 3,190 | 6,522 | |
Non-cash tax adjustments | - | (478) | (413) | (2,851) | |
Non-GAAP Tax expenses | 1,046 | 1,492 | 2,777 | 3,671 | |
GAAP Net income (loss) | 3,610 | (1,203) | 24,063 | 6,220 | |
Stock-based compensation expenses | 921 | 938 | 4,298 | 3,967 | |
Amortization of acquired intangible assets | 306 | 106 | 1,378 | 106 | |
Excess cost on acquired inventory in business combination (*) | - | 525 | 124 | 525 | |
Loss from termination of joint development agreement | - | 1,199 | - | 1,199 | |
Restructuring and other charges | - | - | 1,416 | 897 | |
Acquisition- and integration-related charges | 283 | 835 | 1,660 | 1,118 | |
Other operating expenses | 1,160 | - | 1,160 | - | |
Leases – financial expenses (income) | (15) | 754 | 167 | (253) | |
Non-cash revaluation expenses associated with business combination | 1,385 | 110 | 1,703 | 110 | |
Non-cash tax adjustments | - | 478 | 413 | 2,851 | |
Non-GAAP Net income | 7,650 | 3,742 | 36,382 | 16,740 | |
GAAP Basic net income (loss) per share | 0.04 | (0.01) | 0.28 | 0.07 | |
GAAP Diluted net income (loss) per share | 0.04 | (0.01) | 0.27 | 0.07 | |
Non-GAAP Diluted net income per share (**) | 0.09 | 0.04 | 0.41 | 0.20 | |
(*) Consists of charges to cost of revenues for the difference between the fair value of acquired inventory in business combination, which was recorded at fair value, and the actual cost of this inventory, which impacts the Company's gross profit. | |||||
(**) Weighted average number of shares used in computing diluted net income per share is the same as in GAAP | |||||
View original content:https://www.prnewswire.com/news-releases/ceragon-reports-18-3-increase-in-quarterly-revenue-gaap-eps-of-0-04-per-share-in-the-fourth-quarter-302373409.html
SOURCE Ceragon Networks Ltd.
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