Loading...
Loading...
- Ceragon Networks Ltd CRNT reported first-quarter FY21 revenue growth of 22.2% year-on-year to $68.3 million, beating analyst consensus of $64.55 million.
- India contributed 26% of the revenue. Europe, North America, Latin America, and APAC contributed 19%, 17%, 15%, and 14% of the revenue, respectively, while Africa contributed the rest 9%.
- The gross margin expanded 440 basis points to 29.5%.
- Non-GAAP net loss per share of $0.01 beat the analyst consensus of $0.03 loss.
- The company held $33 million in cash and equivalents as of March 31, 2021.
- Many Tier-1 and Tier-2 operators turned to Ceragon to step up their efforts to provide enhanced 4G coverage and new 5G services, CEO Ira Palti said.
- The company achieved three new 5G design wins, witnessed strong bookings across different regions, and was selected to participate in an OpenRan trial in TIM Brazil, added Palti.
- Palti also disclosed the appointment of former deputy CEO & CFO Doron Arazi to the CEO position from July. Palti will continue as the board Vice Chairman.
- FY21 Guidance: Ceragon's revenue guidance lies between $275 million and $295 million against the analyst consensus of $283.29 million. The growing semiconductor chip crisis may hurt the timeliness of the Q2 and rest-of-the-year deliveries and may lead to a probable push of revenues between quarters.
- Price action: CRNT shares traded higher by 3.23% at $3.52 in the premarket session on the last check Monday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in