Business
CERAGON NETWORKS REPORTS 2022 FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS
Q4 2022 Financial Highlights: Revenues of $75.5 millionOperating income of $1.7 million on a GAAP basis, or $3.2 million on a non-GAAP basisEPS of $(0.03) per
About this update from Ceragon Networks Ltd.
[{"type":"text","content":"Q4 2022 Financial Highlights:\nRevenues of $75.5 millionOperating income of $1.7 million on a GAAP basis, or $3.2 million on a non-GAAP basisEPS of $(0.03) per diluted share on a GAAP basis, or $(0.00) per diluted share on a non-GAAP basisFull Year 2022 Financial Highlights: \nRevenues of $295.2 millionOperating income of $1.4 million on a GAAP basis, or $9.3 million on a non-GAAP basisEPS of $(0.09) per diluted share on a GAAP basis, or $(0.01) per diluted share on a non-GAAP basisQ4 & FY 2022 Business Highlights:\nStrong yearly bookings in North America and India; 2022 annual book-to-bill well above 1Increased success in open networks solutions, Managed Services, and new use cases in Q4 and throughout the yearNorth America:- Excellent year in terms of bookings; Q4 softer due to seasonality- Increased focus and significant traction in the critical infrastructure sector in Q4Europe: - Strong quarter with several key agreements signed- Open network solution gaining tractionIndia:- Strongest region in terms of Q4 and annual revenue- Ongoing strong demand for our 4G network products and growing demand for our 5G network solutionsROSH HA'AIN, Israel, Feb. 8, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the fourth quarter and full year ended December 31, 2022.\nDoron Arazi, CEO, commented: \"I'm pleased to share that we had a very good 2022 in terms of the strength of our business, as reflected in our bookings. The second half of the year showed significant improvement in our revenue levels and profitability thanks to our relentless execution of our Growth Strategy and changing supply chain dynamics, which continue heading in the right direction.\nWe achieved 33.1% gross margin and a $3.2 million in operating profit in the fourth quarter 2022 on a non-GAAP basis. Our revenues and profits would have been even higher were it not for unforeseen outside events. A month into 2023, we are mostly caught up on our revenue shift from the fourth quarter 2022.\nWe are starting 2023 with a strong backlog and a positive operational momentum.\"\nPrimary Fourth Quarter 2022 Financial Results:\nRevenues were $75.5 million, a decrease of 3.0% compared to $77.8 million in Q4 2021 and 4.1% compared to $78.6 million in Q3 ...