Business
Aviat Networks Announces Fiscal 2022 First Quarter Financial Results
Total Revenue of $73.2 million; Up 10.4% Year-Over-Year Adjusted EBITDA of $9.6 million; Up 14.4% Year-Over-Year AUSTIN, Texas, Nov. 3, 2021 /PRNewswire/ --
About this update from Aviat Networks, Inc.
[{"type":"text","content":"Total Revenue of $73.2 million; Up 10.4% Year-Over-Year\n Adjusted EBITDA of $9.6 million; Up 14.4% Year-Over-Year\n\n\nAUSTIN, Texas, Nov. 3, 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 2022 first quarter ended October 1, 2021.\n\n \n \n \n \n \n \n\n \nFirst 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. Company launched high availability routing software to lower the cost of mission critical router platforms. Solid balance sheet and liquidity helps position Company to execute on long-term plans, while maintaining flexibility and security in current persistent COVID-19 environment.First Quarter Financial Highlights\nTotal Revenues: $73.2 million, +10.4% from same quarter last year North America: $50.9 million, +12.0% from same quarter last year International: $22.2 million, +6.9% from same quarter last year GAAP Results: Gross Margin 35.7%; Operating Expenses $19.3 million; Operating Income $6.8 million, Net Income $4.7 million; Net Income per diluted share (\"Net Income per share\") $0.39 Non-GAAP Results: Adjusted EBITDA $9.6 million; Gross Margin 35.7%; Operating Expenses $17.8 million; Operating Income $8.3 million; Net Income $8.1 million; Net Income per share $0.67 Net Cash: $47.3 million; No loans outstanding at quarter-end\"This was another successful quarter 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, and meaningful bottom-line improvements. We continue to demonstrate Aviat's differentiation.\"\nMr. Smith continued, \"Our new high availability routing software is a compelling choice for operators seeking an affordable routing solution that is reliable, scalable, and secure. Also, with 15 of the top 30 Rural Digital Opportunity Fund (RDOF) winners being Aviat customers, and active sales engagements with 5 others in the top 30, we believe we are well-positioned for growth in the rural broadband segment. As an American company, Aviat is proud to deliver broadband connectivity to rural America, enabling ...