Business
Aviat Networks Announces Fiscal 2022 Third Quarter and Nine Month Financial Results
Total Revenue of $74.5 million; Up 12.2% Year-Over-Year GAAP Income Before Tax of $7.3 million; Up 75.5% compared to Prior Year Adjusted EBITDA of $9.5
About this update from Aviat Networks, Inc.
[{"type":"text","content":"Total Revenue of $74.5 million; Up 12.2% Year-Over-Year\nGAAP Income Before Tax of $7.3 million; Up 75.5% compared to Prior Year\nAdjusted EBITDA of $9.5 million; Up 29.2% compared to Prior Year\nAUSTIN, Texas, May 4, 2022 /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 third quarter ended April 1, 2022.\n\n \n \n \n \n \n \n\n \nThird Quarter Highlights\nCompany executed on key long-term strategic objectives resulting in continued year-over-year increase in quarterly revenues and Adjusted EBITDA.Company launched Health Assurance Software (HAS) designed to optimize network performance and reliability.Quickline rural broadband win validates the Company's value proposition to international ISPs.Third Quarter Financial Highlights\nTotal Revenues: $74.5 million, +12.2% from same quarter last yearNorth America: $49.0 million, +16.7% from same quarter last yearInternational: $25.5 million, +4.5% from same quarter last yearGAAP Results: Gross Margin 37.0%; Operating Expenses $20.1 million; Operating Income $7.5 million; Net Income $6.0 million; Net Income per diluted share (\"Net Income per share\") $0.51Non-GAAP Results: Adjusted EBITDA $9.5 million; Gross Margin 37.1%; Operating Expenses $19.2 million; Operating Income $8.4 million; Net Income $7.9 million; Net Income per share $0.67Net Cash and Marketable Securities: $33.8 million; no loans outstanding at quarter-endBuyback: Repurchased $2.0 million of stock in the quarterFiscal 2022 Third Quarter and Nine Months Ended April 1, 2022\nRevenues\nThe Company reported total revenues of $74.5 million for its fiscal 2022 third quarter, compared to $66.4 million in the comparable fiscal 2021 period, an increase of $8.1 million or 12.2%. North America revenue of $49.0 million increased by $7.0 million or 16.7%, compared to $42.0 million in the comparable fiscal 2021 period. International revenue was $25.5 million compared to $24.4 million in the comparable fiscal 2021 period, an increase of $1.1 million or 4.5%.\nFor the nine months ended April 1, 2022, revenue grew by 11.0% to $225.5 million, as compared to $203.2 million in the comparable fiscal 2021 period. North America revenue of $151.0 million increased by $14.3 million or 1...