Business
Aviat Networks Announces Fiscal 2023 Fourth Quarter and Twelve Months Financial Results
Total Q4 Revenue of $91.2 million; Up 17.8% Year-Over-Year Q4 GAAP Operating Income of $6.3 million; Up 20.6% Year-Over-Year Q4 Adjusted EBITDA of $12.6
About this update from Aviat Networks, Inc.
[{"type":"text","content":"Total Q4 Revenue of $91.2 million; Up 17.8% Year-Over-Year\nQ4 GAAP Operating Income of $6.3 million; Up 20.6% Year-Over-Year\nQ4 Adjusted EBITDA of $12.6 million; Up 37.5% Compared to Prior Year\nAUSTIN, Texas, Aug. 23, 2023 /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 2023 fourth quarter and twelve months ended June 30, 2023.\n\n \n \n \n \n \n \n\n \nFourth Quarter Highlights\nExecuted on key long-term strategic objectives resulting in continued year-over-year increase in quarterly revenues and Adjusted EBITDAIntroduced a new, ultra-high power indoor radio to provide more capacity, longer links and minimize interference risk for mission critical networksExpanded Aviat's network management software ProVision Plus to support the wireless access portfolio acquired in the Redline Communications transactionAnnounced transformational acquisition of NEC's Wireless Transport Business for $70.0 millionFourth Quarter Financial Highlights\nTotal Revenues: $91.2 million, +17.8% from the same quarter last yearNorth America: $55.1 million, +13.0% from the same quarter last yearInternational: $36.0 million, +25.8% from the same quarter last yearGAAP Results: Gross Margin 35.8%; Operating Expenses $26.3 million; Operating Income $6.3 million; Net Income $3.3 million; Net Income per diluted share ('Net Income per share\") $0.28Non-GAAP Results: Adjusted EBITDA $12.6 million; Gross Margin 36.2%; Operating Expenses $22.0 million; Operating Income $11.0 million; Net Income $10.3 million; Net Income per share $0.87Net Cash: $22.2 million; no loans outstanding at quarter-endFull Year Financial Highlights\nTotal Revenues: $346.6 million, +14.4% from the prior yearGAAP Results: Gross Margin 35.8%; Operating Expenses $97.8 million; Operating Income $26.4 million; Net Income $11.5 million; Net Income per share $0.97Non-GAAP Results: Adjusted EBITDA $47.0 million; Gross Margin 36.1%; Operating Expenses $84.1 million; Operating Income $40.8 million; Net Income $39.1 million; Net Income per share $3.30\"This quarter's strong performance concluded an exciting fiscal 2023 for Aviat Networks\" said Pete Smith, President and Chief Executive Officer of Aviat Networks. \"The Aviat team executed well on...