Ceragon Announces $20M Revenue Delay from Indian Orders
Tuesday, July 02, 2019 | Comments

Ceragon Networks announced a further delay in receiving certain large orders from India. The orders, which the company had expected to be able to recognize as a significant portion of the related revenue during the second quarter of 2019, are now expected in the third quarter. As a result of the delay, about $20 million of revenue was pushed out from the second quarter. The remainder of Ceragon's global business was slightly better than management's expectations during the quarter.

The company estimates that that its second quarter 2019 results will include revenue in the range of $71 million to $74 million. On a GAAP basis, net results are expected to be in the range of a small loss to a small profit, with a net profit on a non-GAAP basis. This does not represent an update of prior guidance because the company does not typically provide detailed quarterly guidance. Ceragon expects to report actual results for the second quarter Aug. 12.

"We received one of the smaller orders from India in the last few days, and we expect to receive the other, larger orders in time to recognize the related revenue during quarter three and quarter four," said Ira Palti, president and CEO of Ceragon. "The reasons for the delay relate to customers' internal processes, and the aggregate value of these orders has remained the same since we first began working on the details. Since we don't expect an acceleration of the deployment schedule, the delay is expected to roll through the remaining quarters of 2019 and push a total of approximately $20 million of revenue related to India from 2019 into 2020.

"These new orders are part of an ongoing 4G expansion and densification effort in India that we have been supporting for the past five years.”

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