Thursday, July 8, 2010

Aviat Networks Cites Component Shortages

Aviat Networks updated its revenue guidance for the fiscal fourth quarter ending July 2, 2010, saying it now expects revenue to be in the range of $115 - $120 million. The company attributed the revenue shortfall from previous expectations primarily to component shortages and unexpected delays during the transition from in-house to contract manufacturing.

Chuck Kissner, Chairman and CEO of Aviat Networks, commented, "The Board of Directors and I are not satisfied with the Company's operational and financial performance in recent quarters. Since being appointed as CEO two weeks ago, I have initiated a comprehensive review of our business in order to develop a focused strategic and operational plan. With this in place, we plan to move promptly and decisively to put Aviat Networks on track to restore profitability and establish a platform to drive sustainable revenue growth."

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