Sunday, October 24, 2010

Ceragon Posts Record Revenue

Ceragon Networks reported of Q3 2010 revenue of $62.3 million, up 39% from $44.7 million for the third quarter of 2009 and up 2% from $60.9 million in the second quarter of 2010. Net income (GAAP) was $4.6 million or $0.13 per basic share and diluted share. Net income in the third quarter of 2009 was $1.1 million, or $0.03 per basic and diluted share.

"In Q3, we again reported record revenues, higher gross margin and improved operating margin," said Ira Palti, President and CEO of Ceragon. "With new security procedures now in place, business from India is beginning to return to normal. Our book-to-bill ratio in Q3 was about one and, excluding India, it was higher. As a result of strong demand throughout the world, we now expect to achieve annual revenue growth toward the upper end of our target range of 30-35% for the full year."

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