Aviat Networks, Inc. (NASDAQ:AVNW) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Aviat Networks, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 50% to $0.02 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 6% to $118.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Aviat Networks, Inc. reported adjusted EPS income of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.04. It beat the average revenue estimate of $118.15 million.
Quoting Management: “Fiscal third quarter revenue was driven by solid bookings in the seasonally strong fiscal second quarter and strong performances from Africa and North America,” said Michael Pangia, president and CEO, Aviat Networks. “We expect demand for mobile connectivity to be a significant growth driver for the microwave backhaul industry in the geographic markets that we serve.”
Key Stats (on next page)…
Revenue decreased 8.29% from $129 million in the previous quarter. EPS decreased 81.82% from $0.11 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.07 to a profit $0.06. For the current year, the average estimate is a profit of $0.26, 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)