Thursday, April 30, 2009

Ceragon Posts Q1 Revenues of $43.9 Million, Down 7%

Ceragon Networks, a supplier of high-capacity LTE ready wireless backhaul solutions, reported Q1 2009 revenues of $43.9 million, down 7% from $47.2 million for the first quarter of 2008 and down 23% from $56.8 million in the fourth quarter of 2008. Net income (GAAP) was $0.2 million or $0.01 per basic and diluted share, compared to net income of $4.3 million in the first quarter of 2008, or $0.12 per basic share and $0.11 per diluted share.

"Underlying long term growth drivers remain in place and we are encouraged by improving demand from expansion of GSM networks in India to accommodate record subscriber growth as well as signs of improving demand in North America ," said Ira Palti, President and CEO of Ceragon. "At the same time, we are still cautious about the near term outlook due to poor visibility, lengthening sales cycles, and customers' continuing focus on retaining cash. In this environment, our emphasis will continue to be on controlling costs and remaining as flexible as possible in order to react quickly, while preserving our capability to respond effectively when the pace of orders picks up."

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