Business
Aviat Networks Announces Fiscal 2023 Second Quarter and Six Month Financial Results; Increases Full Year Revenue and Earnings Guidance
Total Revenue of $90.7 million; Up 16.5% Year-Over-Year Adjusted EBITDA of $12.9 million; Up 27.4% compared to Prior Year AUSTIN, Texas, Feb. 1, 2023
About this update from Aviat Networks, Inc.
[{"type":"text","content":"Total Revenue of $90.7 million; Up 16.5% Year-Over-Year\nAdjusted EBITDA of $12.9 million; Up 27.4% compared to Prior Year\n AUSTIN, Texas, Feb. 1, 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 second quarter ended December 30, 2022.\n\n \n \n \n \n \n \n\n \nSecond Quarter Highlights\nCompany executed on key long-term strategic objectives resulting in continued year-over-year increase in quarterly revenues and Adjusted EBITDA Record non-GAAP operating margin Capitalized on the 5G upgrade cycle with the recently launched Vendor Agnostic Multi-Band solution Continued growth in private networks with software, routers and private LTE solutions Integration of recent acquisition (Redline Communications, Inc.) progressed ahead of plan and the Company has begun to execute on cross-selling opportunitiesSecond Quarter Financial Highlights\nTotal Revenues: $90.7 million, +16.5% from same quarter last year GAAP Results: Gross Margin 35.5%; Operating Expenses $23.5 million; Operating Income $8.7 million; Net Income before tax $9.1 million Non-GAAP Results: Adjusted EBITDA $12.9 million; Gross Margin 35.7%; Operating Expenses $21.0 million; Operating Income $11.4 million; Net Income $11.1 million; Net Income per share $0.94 Net Cash and Marketable Securities: $21.4 million; no loans outstanding at quarter-endFiscal 2023 Second Quarter and Six Months Ended December 30, 2022\nRevenues\nThe Company reported total revenues of $90.7 million for its fiscal 2023 second quarter, compared to $77.9 million in the comparable fiscal 2022 period, an increase of $12.8 million or 16.5%. North America revenue of $52.0 million increased by $1.0 million or 2.0%, compared to $51.0 million in the comparable fiscal 2022 period. International revenue was $38.6 million compared to $26.8 million in the comparable fiscal 2022 period, an increase of $11.8 million or 44.1%.\nFor the six months ended December 30, 2022, revenue grew by 13.8% to $171.9 million, as compared to $151.0 million in the comparable fiscal 2022 period. North America revenue of $100.9 million decreased by $(1.1) million or (1.1)%, as compared to $102.0 million in the comparable fiscal 2022 period. International revenue of $71.0 m...