Tuesday, May 4, 2010

Aviat Networks Posts Revenue of $120 Million

Aviat Networks reported quarterly revenue of $120.0 million, compared with $158.0 million in the year ago period. The net loss under U.S. GAAP was $25.7 million or $0.43 per share, compared with U.S. GAAP net loss of $39.4 million or $0.67 per share in the year ago quarter.

As of the quarter ended April 2, 2010 cash and cash equivalents were $140.5 million, compared with $126.4 million as of the quarter ended January 1, 2010.

Revenue in the North America segment was $39.6 million in the third quarter of fiscal 2010, compared with $43.0 million in the year ago period. International revenue was $80.4 million, compared with $115.0 million in the year ago period. Beginning in Q1 of fiscal 2010, Network Operations revenue is now reported within the North America and International segments.

"We are seeing stabilizing trends in various regions with new customer revenue coming on-stream in Asia Pacific and some improvement in Africa. While we are maintaining our share position with our top customers, their spending levels continue to reflect the caution we have seen in recent quarters. Overall gains this quarter were offset by the delay in capital spending in Europe and seasonal weakness as well as push-outs in North America," said Harald Braun, president and chief executive officer of Aviat Networks.