Business
Aviat Networks Announces Fiscal 2024 Fourth Quarter and Twelve Months Financial Results
Fourth Quarter Total Revenue of $116.7 million; Up 28.1% Year-Over-Year Fourth Quarter Adjusted EBITDA of $11.9 million Cash from Operations of $8.3 million
About this update from Aviat Networks, Inc.
[{"type":"text","content":"Fourth Quarter Total Revenue of $116.7 million; Up 28.1% Year-Over-Year\nFourth Quarter Adjusted EBITDA of $11.9 million\nCash from Operations of $8.3 million in fourth quarter, $30.5 million for full year\nAUSTIN, Texas, Oct. 4, 2024 /PRNewswire/ -- Aviat Networks, Inc. (\"Aviat Networks,\" \"Aviat,\" or the \"Company\"), (Nasdaq: AVNW), the leading expert in wireless transport and access solutions, today reported financial results for its fiscal 2024 fourth quarter and twelve months ended June 28, 2024.\n\n \n \n \n \n \n \n\n \nFourth Quarter Highlights\nPasolink acquisition accretive to Adjusted EBITDA and non-GAAP net income in the quarterAchieved 4th consecutive fiscal year of growth in both revenue and Adjusted EBITDASecured statewide win of a new public safety customer, converting customer from legacy incumbentFourth Quarter Financial Highlights\nTotal Revenues: $116.7 million, up 28.1% from the same quarter last yearGAAP Results: Gross Margin 35.3%; Operating Expenses $35.7 million; Operating Income $5.5 million; Net Income $1.5 million; Net Income per diluted share (\"Net Income per share\") $0.12Non-GAAP Results: Adjusted EBITDA $11.9 million; Gross Margin 35.9%; Operating Expenses $31.3 million; Operating Income $10.6 million; Net Income $9.2 million; Net Income per share $0.72Net cash and cash equivalents: $64.6 million; cash net of debt: $16.3 millionFull Year Financial Highlights\nTotal Revenues: $408.1 million, up 18.5% from last yearGAAP Results: Gross Margin 35.5%; Operating Expenses $125.3 million; Operating Income $19.4 million; Net Income $10.8 million, Net Income per diluted share $0.86Non-GAAP Results: Adjusted EBITDA $48.1 million; Gross Margin 36.4%; Operating Expenses $105.4 million; Operating Income $43.1 million; Net Income per diluted share $3.15Fiscal 2024 Fourth Quarter and Twelve Months Ended June 28, 2024 \nRevenuesThe Company reported total revenues of $116.7 million for its fiscal 2024 fourth quarter, compared to $91.1 million in the fiscal 2023 fourth quarter, an increase of $25.6 million or 28.1%. North America revenue of $56.2 million increased by $1.4 million or 2.5%, compared to $54.8 million in the prior year due to continued execution on private network projects. International revenue of $60.5 million increased by $24.2 million or 66.6%, compared to $36.3 million in the prior year. This ...