Sunday, May 15, 2011

Ceragon Posts Quarterly Revenue of $100 million

Ceragon Networks reported Q1 2011 revenue of $100.3 million, up 68% from $59.7 million for the first quarter of 2010, and up 50% from $67.0 million in the fourth quarter of 2010. The results include the recently acquired Nera Networks.Net loss in accordance with US Generally Accepted Accounting Principles (GAAP) for the first quarter of 2011 was $21.4 million or $(0.60) per basic share and diluted share, compared to net income of $3.0 million in the first quarter of 2010, or $0.09 per basic and $0.08 per diluted share.

"We are happy to conclude another strong quarter," said Ira Palti, President and CEO of Ceragon. "Revenue from traditional Ceragon customers in the quarter accounted for about 70%, making it another record quarter for our core business, and the revenue contribution from Nera Networks customers since the January 19th closing was in line with our expectations.

Geographical breakdown, first quarter of 2011:

Europe: 22%

Africa: 18%

North America: 13%

Latin America: 15%

India: 15%

APAC: 17%

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