Business
Aviat Networks Announces Fiscal 2021 Fourth Quarter and Full Year Financial Results
Fiscal 2021 Fourth Quarter Total Revenue of $71.7 million; Up 14.4% Year-Over-Year Fiscal 2021 Total Revenue of $274.9 million, Up 15.2% Year-Over-Year and
About this update from Aviat Networks, Inc.
[{"type":"text","content":"Fiscal 2021 Fourth Quarter Total Revenue of $71.7 million; Up 14.4% Year-Over-Year\n Fiscal 2021 Total Revenue of $274.9 million, Up 15.2% Year-Over-Year and Exceeded Guidance of $255-$265 million\n Fiscal 2021 Fourth Quarter Adjusted EBITDA of $7.0 million; Up $1.4 million Year-Over-Year\n Fiscal 2021 Adjusted EBITDA of $32.8 million, Up $19.3 million Year-Over-Year and Exceeded Guidance of $28-31 million\n\n\nAUSTIN, Texas, Aug. 25, 2021 /PRNewswire/ -- Aviat Networks, Inc. (\"Aviat Networks,\" \"Aviat,\" or the \"Company\"), (NASDAQ: AVNW), the leading expert in wireless transport solutions, today reported financial results for its fiscal 2021 fourth quarter and full year ended July 2, 2021.\n\n \n \n \n \n \n \n\n \nFourth Quarter Highlights\nCompany continues to execute on key long-term strategic objectives resulting in continued year-over-year increase in quarterly revenues and Adjusted EBITDA. Solid balance sheet and liquidity helps position the Company to execute on long-term plans.Fourth Quarter Financial Highlights\nTotal Revenues: $71.7 million, +14.4% from same quarter last year North America: $46.4 million, +21.4% from same quarter last year International: $25.3 million, +3.5% from same quarter last yearGAAP Results: Gross Margin 36.1%; Operating Expenses $22.1 million; Operating Income $3.7 million, Net Income $2.8 million; Net Income per diluted share (\"Net Income per share\") $0.24 Non-GAAP Results: Adjusted EBITDA $7.0 million; Gross Margin 36.2%; Operating Expenses $20.4 million; Operating Income $5.6 million; Net Income $5.3 million; Net Income per share $0.45 Net Cash: $47.9 million, +$2.1 million from prior sequential quarter; No loans outstanding at year end\"This was a successful quarter and fiscal year for Aviat,\" said Peter Smith, President and Chief Executive Officer of Aviat. \"We continued to execute on our key long-term focus areas of sales growth, margin expansion, expense reductions and meaningful bottom-line improvements. We continue to demonstrate Aviat's differentiated solutions for 5G, Private Networks and Rural Broadband, capturing share of demand and demonstrating the superiority of our offering.\"\nMr. Smith continued, \"During fiscal 2021, we had wins with Dish Network Corporation, which will help drive our revenue growth starting in fiscal 2022. We have also increased our share of demand...