AVNW - Aviat Networks rises as broad revenue gains outpace forecast
- Aviat Networks ( NASDAQ: AVNW ) is 6.6% higher after hours following fiscal fourth-quarter earnings where the company beat revenue expectations with broad improvement, and boosted core profitability more than 30%.
- Revenue rose 8% year-over-year to $77.4M, and the company posted its highest quarter for bookings in seven years (and the best in North America for over a decade).
- That revenue gain mainly came in International, which rose 13.3% to $28.6M, though North America revenue rose 5.1% to $48.8M.
- Adjusted gross margin dipped slightly to 35.7%; non-GAAP operating expenses declined slightly, to $19.5M.
- Correspondingly, non-GAAP operating income rose to $8.1M vs. a prior-year $5.6M. And net income rose to $7.8M from a previous $5.3M.
- Earnings before interest, taxes, depreciation and amortization rose to $9.1M from a prior $7.1M.
- Liquidity rose to $47.8M from last quarter's $33.8M, and the company had no loans outstanding on July 1.
- Conference call to come at 5 p.m. ET .
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Aviat Networks rises as broad revenue gains outpace forecast