Aviat Networks Announces Third-Quarter, 9-Month Results
Thursday, May 06, 2021 | Comments

Aviat Networks reported financial results for its fiscal 2021 third quarter ended April 2.

Total revenues for the quarter were $66.4 million, up 8.2% from the same quarter last year. Revenues for North America were $42 million, up 12.8% from same quarter last year, and International revenues were $24.4 million, up 1.1% from same quarter last year.

Generally accepted accounting principles (GAAP) gross margin was 38.5%, operating expenses were $21.5 million, operating income was $4 million, net income was $94.7 million, and net income per diluted share was $8.00.

Net cash was $45.8 million, up $2.8 million from the prior sequential quarter. The company had no loans outstanding at the end of the quarter.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the fiscal 2021 third quarter was $7.3 million, compared to $3.5 million in the comparable fiscal 2020 period, a year-over-year improvement of $3.8 million. For the fiscal 2021 nine-month period, the company reported adjusted EBITDA of $25.8 million, as compared to $8 million in the comparable fiscal 2020 period.

"This was another successful quarter and the first nine months of fiscal 2021 for Aviat," said Aviat President and CEO Peter Smith. "We continued to execute on our key long-term focus areas of sales growth, margin expansion, expense reductions and meaningful bottomline improvements. We continue to demonstrate Aviat's differentiation in our multiband transport solution for 5G, private networks and rural broadband, capturing share of demand and demonstrating the viability of our offering."

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