Ceragon Q4 Revenue Tops Consensus; Issues Positive FY22 Outlook

Ceragon Q4 Revenue Tops Consensus; Issues Positive FY22 Outlook
  • Ceragon Networks Ltd CRNT reported fourth-quarter FY21 revenue growth of 5.1% year-on-year to $77.76 million, beating the consensus of $77.18 million.
  • Ceragon saw strong yearly bookings in North America, India, and Europe, with 2021 annual book-to-bill above 1.
  • Ceragon scooped twenty 5G design wins to date across all geographies.
  • Operating income was $1 million versus $(1.5) million last year.
  • The gross margin was 29.4% versus 29.1% last year.
  • Non-GAAP EPS loss of $(0.02) missed the consensus of $0.01.
  • The company held $17.1 million in cash and equivalents and used $9.7 million in operating cash flow.
  • Outlook: Ceragon Networks sees FY22 revenue of $305 million - $320 million versus the consensus of $313.4 million.
  • Price Action: CRNT shares closed higher by 0.89% at $2.26 on Friday.

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