Aviat Networks, Inc. (NASDAQ:AVNW) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Aviat Networks, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 50% to $0.01 in the quarter versus EPS of $0.02 in the year-earlier quarter.
Revenue: Decreased 6.03% to $109 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Aviat Networks, Inc. reported adjusted EPS income of $0.01 per share. By that measure, the company met the mean analyst estimate of $0.01. It missed the average revenue estimate of $110 million.
Quoting Management: “Aviat delivered another profitable quarter on a non-GAAP basis, and generated over $471 million in revenue in fiscal year 2013 which positions us as the leading independent provider of microwave backhaul solutions,” said Michael Pangia, president and CEO, Aviat Networks. “New product introductions, led by the launch of our innovative Converged Transport Router (CTR) platform, will fuel our momentum as we move into the next fiscal year.”
Key Stats (on next page)…
Revenue decreased 7.86% from $118.3 million in the previous quarter. EPS decreased 50% from $0.02 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.04 and has not changed. For the current year, the average estimate is a profit of $0.19, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)