AVNW - Aviat Networks soars after easy FQ2 beats raised full-year outlook

Aviat Networks (AVNW) shares are up nearly 31% pre-market after yesterday's beat-and-raise report.For fiscal Q2, Aviat topped revenue estimates with $70.53M in sales (up 26% Y/Y, $7M ahead of estimates) and EPS of $1.48, a solid $0.76 above consensus.Adjusted EBITDA was $10.01M.The company highlights key customer wins with a u.S.-based Tier 1 5G operator and with Nextlink Internet for rural broadband.Aviat had $43M in net cash at the end of the quarter with no outstanding loans."This was another record quarter and very successful first half of the fiscal year for Aviat," says CEO Peter Smith."Our Company continued to execute on our key long-term focus areas of sales growth, margin expansion, expense reductions and meaningful bottom-line improvements.For full-year 2021, the company now expects revenue of $255-265M (consensus: $251.12M; prior outlook :$245-255M ) and adjusted EBITDA of $28-31M (prior: $18-22M).Press release.

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Aviat Networks soars after easy FQ2 beats, raised full-year outlook