Aviat Networks Losses Shrink After Sale of WiMAX Business
Published on: 3rd May 2012
Note -- this news article is more than a year old.
Microwave network vendor, Aviat Networks has announced that its revenues for theĀ third quarter of fiscal year 2012 fell slightly to USD111.6 million.
The company reported a net loss, including discontinued operations, of US$3.2 million compared with a net loss of USD36.9 million a year-ago.
Revenue and results of operations from their WiMAX business are classified as discontinued operations for all periods presented. The company sold its WiMAX business to Canada's EION Networks last September.
Loss from continuing operations for the quarter was USD0.8 million compared with the loss from continuing operations of USD25.5 million a year-ago.
Cash and cash equivalents were $90.5 million as of March 30, 2012 compared with $84.3 million as of the end of the prior quarter.
"We had a very strong quarter across all key operating metrics," said Michael Pangia, president and CEO, Aviat Networks. "As we move into Q4, we will continue to drive this momentum by relentlessly pursuing our business strategy and maintaining a pipeline of new products that enable us to further advance our competitive position in both the mobile and non-mobile markets."
Based on current trends, the fourth fiscal quarter revenue outlook range is $107-$115 million. Gross margins in the quarter are expected to be in the range of 29.5%-30.5%. Operating expenses should run in the $31.5-$32.5 million range and cash balances should increase in the quarter.