Aviat Networks(US:AVNW) Prnewswireยท2025-02-04 21:05Core Viewpoint - Aviat Networks reported strong financial results for the fiscal 2025 second quarter, with total revenues of $118.2 million, reflecting a year-over-year increase of 26.2% driven by growth in both North America and international markets [1][2][11]. Revenue Summary - Total revenues for the second quarter reached $118.2 million, up from $93.7 million in the same quarter of fiscal 2024, marking an increase of $24.5 million or 26.2% [2][11]. - North America revenue was $58.0 million, an increase of $7.3 million or 14.5% compared to $50.6 million in the prior year, attributed to strength in the private networks business [2][11]. - International revenue totaled $60.2 million, up $17.2 million or 39.8% from $43.1 million in the prior year, largely due to contributions from the Pasolink acquisition [2][11]. Gross Margin Analysis - The GAAP gross margin for the second quarter was 34.6%, down from 38.8% in the same quarter of fiscal 2024, a decrease of 420 basis points [4][11]. - Non-GAAP gross margin was reported at 35.3%, compared to 38.8% in the prior year, a decrease of 350 basis points [4][11]. Operating Expenses - Total GAAP operating expenses for the second quarter were $32.9 million, consistent with the previous year [6][11]. - Non-GAAP total operating expenses, excluding certain charges, were $29.1 million, an increase of $3.7 million or 14.7% from $25.4 million in the prior year [6][11]. Operating Income - GAAP operating income for the second quarter was $8.0 million, up from $3.4 million in the same quarter of fiscal 2024, an increase of $4.6 million [8][11]. - Non-GAAP operating income was $12.6 million, compared to $11.0 million in the prior year, reflecting an increase of $1.6 million [8][11]. Net Income - The company reported GAAP net income of $4.5 million for the second quarter, compared to $1.8 million in the same quarter of fiscal 2024 [12][11]. - Non-GAAP net income was $10.5 million, slightly up from $10.3 million in the prior year [12][11]. Adjusted EBITDA - Adjusted EBITDA for the second quarter was $14.8 million, an increase of $2.7 million from $12.1 million in the fiscal 2024 second quarter [14][11]. Balance Sheet Highlights - As of December 27, 2024, the company had cash and cash equivalents of $52.6 million, down from $64.6 million as of June 28, 2024 [15][11]. - Total debt was reported at $74.9 million, an increase of $26.5 million from June 28, 2024 [15][11]. Fiscal Year 2025 Outlook - The company maintained its full-year revenue guidance between $430 million and $470 million, with adjusted EBITDA expected to be between $30.0 million and $40.0 million [21][11].