Ceragon Reports Q2 Revenue Impacted By Delayed Orders From India

Ceragon Networks CRNT reported second-quarter revenue will be impacted by a further delay in receiving certain orders from India. The company sees second-quarter revenue in the range of $71 million to $74 million

Ceragon Networks reports that as a result of the delay, approximately $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.

"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 Q3 and Q4," said Ira Palti, 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."

Ceragon Networks shares were trading down 8.8% at $2.78 in Tuesday's pre-market session.

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CRNTCeragon Networks Ltd

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