Ceragon Reports Second-Quarter Financials
Wednesday, August 14, 2019 | Comments

Ceragon Networks reported results for the second quarter which ended June 30. Revenues in the quarter were $73 million, down 17.4% from the second quarter of 2018, and up 5.5% from the first quarter of 2019. 

Gross margin for the second quarter was 36.1%, compared with 32.5% in the second quarter of 2018 and 35.6% in the first quarter of 2019. Operating income was $4.1 million, compared to $6.4 million in the second quarter of 2018, and $3.2 million in the first quarter of 2019.

The company reported net income for the quarter of $800,000 compared with $3.2 million in the second quarter of 2018. Net income for the first quarter of 2019 was $800,000. Cash and cash equivalents were $29 million at June 30 compared with $29.8 million at March 31.

"Growth in several regions accounted for the sequential increase in revenue during the second quarter, although the overall revenue level continued to reflect the delay in receiving orders from our customers in India," said Ira Palti, president and CEO of Ceragon. "We are pleased to report that, during quarter two, we added new design wins for 5G in North America, Europe and Asia Pacific, which we expect to begin contributing to revenue during the second half of next year. 

"Excluding India, revenue from other regions increased substantially in the first half of 2019 compared with the first half of 2018, and we expect to see this trend continue. Looking to the second half of 2019, it now appears that our revenue from India will be affected not only by the order delays but also by a slowdown in the pace of deployment activity, preventing us from reaching our net income goal and causing net income for 2019 to decline compared to 2018.”

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