Business
Ceragon Networks Reports 2021 Third Quarter Financial Results
Q3 2021 Financial Highlights: Revenues of $76.1 million Operating income of $2.9 million on a GAAP basis, or $4.0 million on a non-GAAP basis EPS of $0.00
About this update from Ceragon Networks Ltd.
[{"type":"text","content":" Q3 2021 Financial Highlights:\nRevenues of $76.1 million Operating income of $2.9 million on a GAAP basis, or $4.0 million on a non-GAAP basis EPS of $0.00 per diluted share on a GAAP basis, or $0.02 per diluted share on a non-GAAP basisQ3 2021 Business Highlights:\nStrong bookings in North America, India and Europe; book-to-bill above 1 Eighteen 5G design wins to date, across all geographies North America: o Strong quarter, especially in regards to Tier 1 activity o 5G-related bookings accounted for over 50% of all North American bookings year-to-date Europe: 5G-related bookings accounted for over 35% of all European bookings year-to-date India: Continued healthy demand for network upgrades and expansion LITTLE FALLS, N.J., Nov. 1, 2021 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the third quarter ended September 30, 2021.\nDoron Arazi, CEO, commented: \"I'm pleased to report a successful third quarter. We experienced significant growth in our revenues and returned to profitability. Across different regions, we enjoyed sustained robust bookings, the addition of new customers, and the increase in our backlog, giving us confidence for the remainder of the year. We achieved new 5G design wins. Against the backdrop of the ongoing challenges in component and shipping industries, we are doing the utmost to support our customers in meeting their goals, even on account of increased costs for us. \nAt Ceragon, we operate with a vision to create equal digital opportunities for all people around the world. We do this by bringing communication capabilities everywhere. We are pleased to see operators and network providers on accelerated schedules, and more governments working to bring better communication infrastructure to rural areas. They all want the highest quality solution and they all want it fast. We are proud that we are able to meet most of their demands.\"\nPrimary Third Quarter 2021 Financial Results:\nRevenues were $76.1 million, up 7.8% from $70.6 million in Q3 2020 and up 10.9% from $68.6 million in Q2 2021. The increase from Q3 2020 is mainly attributed to stronger sales in India. \nGross profit was $23.5 million, giving us a gross margin of 30.9%, compared with a gross margin of 33.4% in Q3 2020 a...