Welcome to our dedicated page for Aviat Networks news (Ticker: AVNW), a resource for investors and traders seeking the latest updates and insights on Aviat Networks stock.
Aviat Networks reports developments tied to its wireless transport and access networking business, including microwave and millimeter wave radios, network management tools, professional services, and support for communications service providers and private network operators. Its customer categories include mobile operators, public safety organizations, utilities, government agencies, defense organizations, and enterprise users that operate critical wireless data-transport networks.
Recurring news includes fiscal quarter results, revenue trends by North America and international markets, gross margin and operating-income commentary, adjusted EBITDA and other non-GAAP measures, investor conference participation, earnings-call schedules, and leadership or governance updates.
Aviat Networks, the leading expert in wireless transport and access solutions, has acquired 4RF, a top provider of industrial wireless access solutions. The acquisition broadens Aviat's reach into the $200M narrowband connectivity segment and the $1.4B Cellular (LTE/5G) Router market, expected to grow to $2.5B by 2027.
4RF's products, designed for critical infrastructure like utilities, oil, gas, public safety, and military, will augment Aviat's portfolio, opening new cross-selling opportunities with over 300 critical infrastructure customers in 160 countries. This deal is predicted to positively impact Aviat's gross margin, adjusted EBITDA, and non-GAAP EPS within the first year. Financial terms of the acquisition remain undisclosed.
Aviat Networks has appointed Michael C. Connaway as Senior Vice President and Chief Financial Officer, effective May 28, 2024. Connaway brings over 20 years of financial leadership experience, including significant roles at Honeywell and General Electric. He has successfully managed profit and loss statements ranging from $2.5 to $7 billion. Peter A. Smith, CEO of Aviat Networks, highlighted Connaway's diverse experience across multiple industries and his ability to drive value for stakeholders. Connaway replaces David Gray, who has contributed to Aviat's growth over the past three years. Aviat Networks aims to leverage Connaway's expertise to scale its growth and enhance its competitive position.
Aviat Networks, a leader in wireless transport and access solutions, will participate in key investor conferences in May and June 2024. Investors can schedule meetings with the company representatives at the events. Presentations and materials will be accessible on the Investor Relations section of Aviat's website.
Aviat Networks reported strong financial results for the fiscal 2024 third quarter and nine months, with total revenue of $111.6 million, up 33.7% YoY. Adjusted EBITDA reached $12.0 million, up 11.1% YoY, and cash from operations was $15.3 million for the quarter and $22.2 million year-to-date. The company achieved growth in core revenue, secured new orders, and saw positive cash flow. Despite challenges in North America, international revenue surged by 79.6% due to acquisitions and strong performance in Latin America and Asia Pacific. Gross margins and operating expenses saw fluctuations, impacting operating income and net income. Aviat Networks remains optimistic about exceeding planned returns and providing wireless transport solutions.
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