SAN FRANCISCO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The price of Aviat Networks, Inc. (NASDAQ: AVNW) tumbled as much as $6.36 (-26%) during intraday trading on Sept. 12, 2024 after the company announced it would not timely file its financial statements for its fiscal year-ended June 28, 2024. Hagens Berman urges Aviat Networks, Inc. (AVNW) investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may assist the investigation to contact its attorne ...

SAN DIEGO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Aviat Networks, Inc. (NASDAQ: AVNW) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws. What if I purchased Aviat securities? If you purchased securities and suffered losse ...

AUSTIN, Texas, Sept. 11, 2024 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), ("Aviat" or the "Company") the leading expert in wireless transport and access solutions, announced today that it has filed a Notification of Late Filing on Form 12b-25 with respect to the Annual Report on Form 10-K for the fiscal year ended June 28, 2024.Aviat has determined that it is unable to file, without unreasonable effort or expense, its Annual Report on Form 10-K for the fiscal year ended June 28, 2024 by the prescri ...

Navigating today’s market where mega- and large-cap tech darlings are giving up recent gains can feel like walking a tightrope. But experienced investors know that there’s always a bull market in some asset class, such as small-cap stock picks. Typically valued between $250 million and $2 billion in market cap, these smaller companies can offer surprising opportunities for significant returns and growth potential.With the market eyeing possible rate cuts from the Federal Reserve, small-cap stock picks look ...

AUSTIN, Texas, July 2, 2024 /PRNewswire/ -- Aviat Networks, Inc. ("Aviat") (Nasdaq: AVNW), the leading expert in wireless transport and access solutions, today announced the acquisition of 4RF Limited ("4RF"), a leading provider of industrial wireless access solutions, including narrowband point-to-point/multi-point radios and Private LTE and 5G routers.Designed specifically for critical infrastructure networks including utilities, oil and gas, mining, public safety and military, 4RF's family of narrowband ...

Core Viewpoint - Aviat Networks reported mixed Q3/FY2024 results with revenues slightly below expectations but profitability exceeding consensus forecasts [2][10] Financial Performance - Q3/FY2024 revenue was $111.6 million, with a gross margin of 35.2% [3] - Operating expenses increased to $28.5 million, while adjusted EBITDA was $12.0 million, resulting in an adjusted EBITDA margin of 10.8% [3] - Cash flow from operations improved to $15.3 million, with cash and cash equivalents rising to $59.2 million [3] Acquisition Impact - The recent Pasolink acquisition impacted margins but contributed positively to cash flow generation [5] - Pasolink's business is expected to grow slower than initially anticipated, with a targeted annual run rate contribution of $140 million [5] Guidance Adjustments - Management revised FY2024 revenue guidance to a range of $408 million to $418 million, while maintaining adjusted EBITDA guidance of $51 million to $56 million [6] - Preliminary FY2025 revenue guidance was also backtracked, with expectations now set lower than the previously stated $515 million to $520 million [7] Market Reaction - The lowered growth outlook led to a 16% selloff in shares, although the stock price has since stabilized [8][10] - The current valuation remains attractive, with a potential upside of over 60% based on a price target of $50 [8] Long-Term Goals - The company aims for Pasolink to achieve a gross margin of 33% and adjusted EBITDA margins of 11-13% by the end of year two [7] - Long-term adjusted EBITDA margin goal is set at 15% [7]

AUSTIN, Texas, May 28, 2024 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in wireless transport and access solutions, is announcing the appointment of Michael C. Connaway as Senior Vice President and Chief Financial Officer. Mr. Connaway's employment with the Company is effective as of today, and he will serve as the Company's Principal Financial Officer."We are thrilled to welcome Michael to the Aviat team. Given his tremendous track record across multiple industries, end markets, ...

Aviat Networks, Inc. (NASDAQ:AVNW) Q3 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants Andrew Fredrickson - Director of Corporate Development & Investor Relations Peter Smith - President & Chief Executive Officer David Gray - Senior Vice President & Chief Financial Officer Conference Call Participants Jaeson Schmidt - Lake Street Capital Markets Scott Searle - ROTH Capital Partners Theodore O'Neill - Litchfield Hills Research Tim Savageaux - Northland Capital Markets Operator Good a ...

Core Insights - Aviat Networks, Inc. reported quarterly earnings of $0.73 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, but down from $0.75 per share a year ago, indicating an earnings surprise of 23.73% [1] - The company generated revenues of $111.61 million for the quarter, missing the Zacks Consensus Estimate by 1.71%, compared to $83.48 million in the same quarter last year [1] - The stock has underperformed the market with a 2.4% increase since the beginning of the year, compared to the S&P 500's 5.6% gain [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.09 on revenues of $130.53 million, and for the current fiscal year, it is $3.53 on revenues of $426.68 million [4] - The estimate revisions trend for Aviat Networks is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [4] Industry Context - The Wireless Equipment industry, to which Aviat Networks belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - ViaSat, another company in the same industry, is expected to report a quarterly loss of $0.60 per share, reflecting a year-over-year change of -103.9%, with revenues projected at $1.11 billion, a 67% increase from the previous year [5]

Revenue Performance - Total revenue for the third quarter of fiscal 2024 was $111.6 million, representing a 33.7% increase compared to $83.5 million in the same period of fiscal 2023[119]. - Revenue from product sales increased by 29.3% to $70.9 million in the third quarter of fiscal 2024, while service revenue rose by 42.2% to $40.8 million[123]. - Revenue in North America decreased by $1.7 million (3.6%) in the third quarter of fiscal 2024, but increased by $4.3 million (2.9%) for the first nine months compared to fiscal 2023[119]. - Revenue in Africa and the Middle East decreased by $7.8 million (40.7%) in the third quarter of fiscal 2024, and by $8.5 million (19.2%) for the first nine months[121]. - Revenue in Europe increased by $2.7 million (69.2%) in the third quarter of fiscal 2024, and by $3.7 million (26.8%) for the first nine months[122]. - Revenue in Latin America and Asia Pacific surged by $34.9 million (244.2%) in the third quarter of fiscal 2024, and by $39.3 million (78.1%) for the first nine months[122]. Gross Margin and Expenses - Gross margin for the third quarter of fiscal 2024 increased by $6.7 million to $36.5 million, while gross margin for the first nine months rose by $13.7 million[124]. - The gross margin percentage for the third quarter of fiscal 2024 was 32.7%, down from 35.7% in the same quarter of fiscal 2023, primarily due to dilution from the NEC Transaction[125]. - Research and development expenses increased by $4.1 million (63.0%) for the third quarter and $6.8 million (36.4%) for the first nine months of fiscal 2024 compared to the same periods in fiscal 2023, primarily due to increased product development activities and costs from the NEC Transaction[126]. - Selling and administrative expenses rose by $5.5 million (34.5%) for the third quarter and $12.1 million (24.2%) for the first nine months of fiscal 2024, mainly due to merger and acquisition expenses and costs from the NEC Transaction[127]. Acquisitions - The company completed the acquisition of NEC's wireless transport business for approximately $54.5 million, enhancing its product portfolio and market scale[114][115]. - The company acquired Redline Communications Group Inc. for $20.4 million, further strengthening its position in mission-critical data infrastructure[116]. Cash Flow and Financing - Net cash provided by operating activities was $22.2 million for the first nine months of fiscal 2024, a $31.2 million increase from $(9.0) million in the prior year, attributed to improvements in working capital and increased net income[136]. - Net cash used in investing activities was $35.0 million for the first nine months of fiscal 2024, compared to $11.7 million in the prior year, primarily due to payments related to the NEC Transaction[137]. - Net cash provided by financing activities was $49.3 million for the first nine months of fiscal 2024, a $43.1 million increase from $6.2 million in the prior year, mainly due to $50.0 million of Term Loan borrowings for the NEC Transaction[138]. - As of March 29, 2024, the Company had total cash and cash equivalents of $58.2 million, with $20.6 million held in the United States and $37.6 million held by foreign entities[135]. Interest and Debt - Interest expense, net increased by $0.8 million (660.7%) for the third quarter and $1.2 million (576.7%) for the first nine months of fiscal 2024, primarily due to interest on Term Loan borrowings for the NEC Transaction[130]. - The effective interest rate on the Company's outstanding Term Loan borrowings as of March 29, 2024, was 7.9%[149]. - The Company estimates a 10% change in interest rates could impact annual interest expense by approximately $0.4 million on its outstanding long-term debt[149]. - The Company believes its existing cash, available borrowings, and future cash collections will be sufficient for its anticipated requirements for at least the next 12 months[140].