Ceragon Networks (CRNT) Reports Q1 EPS of $0.00

Ceragon Networks (NASDAQ: CRNT) reported Q1 EPS of $0.00, versus ($0.01) reported last year. Revenue for the quarter came in at $76 million versus the consensus estimate of $74.09 million.

• Revenues – $76.0 million, up 27.1% from the first quarter of 2016, and down 10.2% from the fourth quarter of 2016.
• Gross margin – 29.3%, compared to 35.6% in the first quarter of 2016 and 32.5% in the fourth quarter of 2016.
• Operating income – $2.0 million, compared to operating income of $1.2 million in the first quarter of 2016 and operating income of $8.5 million in the fourth quarter of 2016.
• Net loss – $(0.1) million or $(0.00) per diluted share. Net loss for the first quarter of 2016 was $(0.4) million, or $(0.01) per diluted share. Net income for the fourth quarter of 2016 was $8.3 million, or $0.10 per diluted share.
• Non-GAAP results – gross margin was 30.0%, operating profit was $2.9 million, and net income was $0.9 million, or $0.01 per diluted share. Non-GAAP results exclude adjustments of $1.0 million. For a reconciliation of GAAP to non-GAAP results, see the attached tables.
• Cash and cash equivalents – $36.5 million at March 31, 2017, compared to $36.3 million at December 31, 2016.

For earnings history and earnings-related data on Ceragon Networks (CRNT) click here.

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