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Ceragon Networks Ltd (NASDAQ: CRNT) is renowned as the world’s leading wireless backhaul specialist, providing high-capacity wireless connectivity solutions across the globe. Specializing in 5G and 4G broadband wireless connectivity, Ceragon enhances operational efficiency for service providers, public safety organizations, government agencies, and utility companies. Their innovative solutions empower these entities to deliver mission-critical multimedia services and other high-speed, reliable applications.
Ceragon’s core technology, based on a unique multicore approach, offers highly reliable, high-capacity wireless transport with minimal resource utilization. This efficiency translates into increased productivity and simplified network modernization. The company’s IP-50 and IP-20 platforms, along with the PointLink solutions, are instrumental in delivering these capabilities.
Geographically, Ceragon generates its major revenue from India, though it has a significant presence in North America, Europe, Africa, Asia-Pacific, the Middle East, and Latin America. Their deployment spans over 600 service providers and more than 1,600 private network owners in over 130 countries. With a complete portfolio of turnkey end-to-end AI-based managed and professional services, Ceragon ensures efficient network rollout and optimization to maximize value for customers.
Recent achievements include securing a substantial $150 million contract with a Tier 1 operator in India for a network modernization project, and the acquisition of Siklu, enhancing Ceragon’s portfolio with advanced millimeter wave solutions. In 2024, Ceragon expects to deliver revenues between $385-405 million and has moved its long-term target for $500 million in annual revenue forward by 12 months to 2026.
The company is also committed to providing solutions for private networks, particularly in the energy sector, evidenced by their recent strategic deals worth $10 million in Q1 2024. Ceragon continues to evolve with innovations like the Neptune SoC-based millimeter wave technology capable of 100 Gbps, showcased at Mobile World Congress 2024.
For more information, visit www.ceragon.com.
Ceragon Networks Ltd. (NASDAQ: CRNT) confirmed receipt of letters from competitor Aviat Networks, requesting an extraordinary general meeting to propose changes to Ceragon's Board of Directors. Aviat's letters hinted at a potential acquisition interest in Ceragon. The Board will review these proposals with its advisors and act in the best interests of the company and shareholders. Importantly, shareholders are advised that no action is required from them at this time, allowing them to await the Board's response.
Aviat Networks, Inc. (NASDAQ: AVNW) is pushing for significant changes at Ceragon Networks Ltd. (NASDAQ: CRNT), calling for an extraordinary meeting to restructure its board of directors. Aviat, which holds over 5% of Ceragon shares, plans to remove three current directors and elect five independent candidates. This move follows Aviat's claim that Ceragon’s board has led to significant shareholder value destruction and ignored a premium acquisition offer of $2.80 per share. Aviat emphasizes the need for a board that prioritizes shareholder interests and creates value.
Aviat Networks has proposed to acquire Ceragon Networks for $2.80 per share in cash, representing a 51% premium to Ceragon's recent trading average. This nonbinding proposal aims to create a leading wireless transport solutions company, enhancing operational efficiencies and competitive positioning through significant synergies estimated at $35 million. Aviat, holding over 5% of Ceragon's shares, is calling for an extraordinary general meeting to elect new directors to evaluate this acquisition. The proposal reflects Aviat's belief in delivering immediate value to Ceragon shareholders.
Ceragon Networks Ltd. (CRNT) reported Q1 2022 revenues of $70.3 million, a 2.9% increase from Q1 2021 but down 9.6% from Q4 2021. A GAAP operating loss stood at $(1.3) million, with net loss at $(2.3) million or $(0.03) per diluted share. Despite strong bookings across North America, India, Europe, and LATAM, supply chain issues hindered product delivery. The company expects annual revenue between $300-$315 million pending improvements in supply chains and gross margins. Cash reserves improved to $25.0 million.
Ceragon Networks Ltd. announced an agreement with DISH Wireless to supply 5G transport solutions, including IP-50C microwave and IP-50E millimeter wave technologies. This partnership aims to support DISH's rollout of its cloud-native 5G Smart Network™. Ceragon's advanced solutions promise enhanced reliability, reduced total cost of ownership, and rapid deployment capabilities. With over 400 service providers as customers, Ceragon emphasizes its leadership in 5G wireless transport.
Ceragon Networks Ltd. (NASDAQ: CRNT) will announce its Q1 2022 earnings on May 2, 2022, before market opening. The company will host a web conference at 9:00 a.m. ET on the same day to discuss results, followed by a Q&A session. Registration for this conference is available through the provided link. Ceragon is a leader in 5G wireless transport solutions, assisting various service providers globally. Its technology facilitates reliable connectivity and quick network modernization, supporting over 400 service operators across more than 150 countries.
Ceragon Networks Ltd. (NASDAQ: CRNT) announced the departure of its Chief Financial Officer, Ran Vered, effective May 2022, as he seeks opportunities outside the telecom sector. Vered is credited with enhancing Ceragon's financial foundation during challenging times. The company is actively searching for his successor, with Doron Arazi, the CEO, stepping in as interim CFO if needed. Ceragon continues to focus on expanding its 5G technology portfolio while maintaining operational efficiency in delivering wireless transport solutions.
Ceragon Networks Ltd. (NASDAQ: CRNT) has secured a significant contract with a Tier 1 Operator in India, receiving initial orders worth $15 million for its 5G wireless transport solutions. This collaboration is aimed at modernizing the operator's network in preparation for 5G, including conducting field trials with Open RAN technology. The project underscores Ceragon's growing market presence and its capability to adapt to customer needs despite supply chain challenges. Deliveries are expected in Q2 and Q3 2022, showcasing Ceragon's robust technological offerings during a competitive market phase.
Ceragon Networks Ltd. (NASDAQ: CRNT) announced a multi-million dollar managed services contract with a major global energy company to provide high bandwidth microwave connectivity for offshore oil production in West Africa. The three-year agreement emphasizes Ceragon's 'connectivity as a service' model, showcasing its expertise in delivering reliable, low-latency solutions in challenging environments. The deployment will utilize Ceragon's PointLink platform to ensure operational reliability and support for the customer's digital transformation initiatives.
Ceragon Networks Ltd. (NASDAQ: CRNT) reported Q4 2021 revenues of $77.8 million, a 5.1% increase from Q4 2020, and full-year revenues of $290.8 million, a 10.6% rise from 2020. Despite an operating income of $1.0 million for Q4 on a GAAP basis, the net loss for the quarter was $12.2 million, or $(0.15) per diluted share. The company highlighted strong bookings, especially in North America and Europe, with 5G-related bookings comprising a significant portion. For 2022, Ceragon anticipates revenue of $305-$320 million, contingent on resolving supply chain issues.
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