Company description

Thu, 16 Aug 2012 04:00:00 GMT

Aviat Networks, Inc. engages in the design, manufacture, and sale of a range of wireless networking products, solutions, and services worldwide. It offers point-to-point and point-to-multipoint digital microwave transmission systems for first/last mile access, middle mile/backhaul, and long distance trunking applications. The company’s products include broadband wireless access base stations and customer premises equipment for fixed and mobile; point-to-point digital microwave radio systems for access, backhaul, trunking, and license-exempt applications; and supporting network deployments, network expansion, and capacity upgrades. It also provides network management software solutions to enable operators to deploy, monitor, and manage its systems, as well as third party equipment, such as antennas, routers, and multiplexers to build and deploy a wireless transmission network and a suite of turnkey support services. In addition, the company offers professional services, such as network planning and design, site surveys and builds, systems integration, installation, maintenance, network monitoring, training, and customer services. It serves mobile and fixed communications service providers, original equipment manufacturers, private network operators, government agencies, transportation and utility companies, system integrators, public safety agencies, and broadcast system operators, as well as pipeline, railroad, and other industrial enterprises that operate wireless networks. The company was formerly known as Harris Stratex Networks, Inc. and changed its name to Aviat Networks, Inc. in January 2010. Aviat Networks, Inc. is headquartered in Santa Clara, California.

Comments & Business Outlook

Thu, 16 Aug 2012 04:00:00 GMT

Fourth Quarter 2012 Results

Revenue for the quarter was above guidance range at $116.0M
GAAP Gross Margin of 28.3%; Non-GAAP Gross Margin was below guidance range at 28.6% due to unfavorable product mix and negative FX impacts
GAAP Net Loss including discontinued operations of $(1.3)M or $(0.02) per share; Non-GAAP Net Income from continuing operations of $1.2M or $0.02 per share
Generated positive cash flow from operations of $9.2M

"We are now at the inflection point of our business strategy. We have an improved financial model and with restructuring largely behind us, we are seeing the potential to more consistently generate cash and non-GAAP profitability," said Michael Pangia, president and CEO, Aviat Networks. "As we move into our new fiscal year, we will enhance our value proposition with the continued rollout of additional new products and remain focused on increasing shareholder value."

Outlook

Based on current trends, the first quarter of fiscal 2013 revenue outlook range is $111M-$116M. Gross margins in the quarter are expected to be in the range of 29.0%-30.0% and non-GAAP operating expenses are expected to be in the $31.0-$32.0M range. Cash balances are estimated to increase modestly in the quarter.

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Company description

Comments & Business Outlook