Last $1.33 USD
Change Today -0.02 / -1.48%
Volume 262.4K
AVNW On Other Exchanges
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Munich
As of 8:10 PM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).

aviat networks inc (AVNW) Key Developments

Aviat Networks, Inc. Appoints Chuck Kissner as Executive Chairman

Aviat Networks, Inc. announced that its Board of Directors has appointed Chuck Kissner as Executive Chairman. As Executive Chairman, Mr. Kissner will assist Michael Pangia, Aviat's President and Chief Executive Officer, and the rest of Aviat's management team, with strategic initiatives, long-term product and service planning and further alignment of Aviat's business model.

Aviat Networks, Inc.(NasdaqGS:AVNW) dropped from Russell 2000 Index

Aviat Networks, Inc. will be removed from the Russell 2000 Index.

Aviat Networks, Inc.(NasdaqGS:AVNW) dropped from Russell 3000 Index

Aviat Networks, Inc. will be removed from the Russell 3000 Index.

Aviat Networks, Inc. Adds Symbol Repeater Feature to Eclipse Platform

Aviat Networks, Inc. announced the addition of the Symbol Repeater feature to its Eclipse platform for low latency microwave networks. This results in end-to-end equipment-related latency improvement of up 30% depending on route and configuration. When used in conjunction with the Adaptive Intelligent Repeater (AIR), the Symbol Repeater provides class leading low latency performance for adaptive IF, Digital and Symbol Repeater functionality while supporting hitless Space Diversity path protection. This functionality has been operating successfully since early 2014. The Symbol Repeater functionality has been built on Aviat's new generation of FPGA-based IP core designed exclusively for low latency networks. This architecture enables Aviat to achieve further reductions in modem terminal latency as well as advanced data interface processing with increased throughput and optimized form factors. Aviat's full service design, engineering, installation, service and support capabilities, ensures customers achieve optimum carrier-class low latency network performance.

Aviat Networks, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 28, 2014; Provides Cash Flow Guidance for the First Half of Fiscal 2015

Aviat Networks, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 28, 2014. For the quarter, the company reported revenue from product sales and services of USD 81.4 million compared to USD 118.3 million a year ago. Operating loss was USD 14.8 million compared to USD 1.0 million a year ago. Loss from continuing operations before income taxes was USD 14.6 million compared to USD 1.0 million a year ago. Loss from continuing operations was USD 15.1 million compared to USD 1.6 million a year ago. Net loss was USD 14.8 million compared to USD 1.7 million a year ago. Basic and diluted loss per share from continuing operations was USD 0.24 compared to USD 0.03 a year ago. Basic and diluted loss per share was USD 0.24 compared to USD 0.03 a year ago. Non GAAP operating loss was USD 9.9 million compared to non GAAP operating income of USD 1.8 million a year ago. Non-GAAP loss from continuing operations was USD 10.2 million or USD 0.16 per basic and diluted share compared to non GAAP income from continuing operations of USD 10.4 million or USD 0.02 per basic and diluted share a year ago. Adjusted LBITDA was USD 7.8 million compared to adjusted EBITDA of USD 3.3 million a year ago. Cash used by operating activities was USD 14.5 million in the fiscal third quarter. CapEx was approximately USD 2.4 million. Negative free cash flow in the quarter came in at USD 16.9 million. For the nine months, the company reported revenue from product sales and services of USD 260.6 million compared to USD 362.3 million a year ago. Operating loss was USD 38.9 million compared to operating income of USD 4.6 million a year ago. Loss from continuing operations before income taxes was USD 38.8 million compared to income from continuing operations before income taxes of USD 4.6 million a year ago. Loss from continuing operations was USD 39.0 million compared to USD 7.4 million a year ago. Net loss was USD 38.3 million compared to USD 9.2 million a year ago. Basic and diluted loss per share from continuing operations was USD 0.63 compared to USD 0.12 a year ago. Basic and diluted loss per share was USD 0.62 compared to USD 0.15 a year ago. Net cash used in operating activities was USD 32.1 million compared to net cash provided by operating activities of USD 5.5 million a year ago. Additions of property, plant and equipment was USD 7.8 million compared to USD 6.0 million a year ago. Non GAAP operating loss was USD 26.0 million compared to non GAAP operating income of USD 12.3 million a year ago. Non-GAAP loss from continuing operations was USD 27.4 million or USD 0.45 per basic and diluted share compared to non GAAP income from continuing operations of USD 10.4 million or USD 0.17 per basic and diluted share a year ago. Adjusted LBITDA was USD 20.3 million compared to adjusted EBITDA of USD 17.2 million a year ago. The company presently expects to return to quarterly positive cash flow generation in the first half of fiscal 2015.

 

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