Aviat Networks (AVNW) Reports Q4 EPS of $0.51

Aviat Networks (NASDAQ: AVNW) reported Q4 EPS of $0.51, versus $0.00 reported last year. Revenue for the quarter came in at $62.5 million.

• Total revenue of $62.5 million, an increase of 10.8% year-over-year primarily driven by a 45.1% year-over-year increase in international revenue
• GAAP gross margin of 37.1%, an increase of 300 basis points year-over-year; non-GAAP gross margin of 36.9%, a 280 basis point improvement year-over-year
• GAAP operating expenses, excluding restructuring charges, totaled $20.6 million and non-GAAP operating expenses of $20.0 million, up $1.0 million and $0.9 million year-over-year, respectively
• GAAP operating income of $1.0 million and non-GAAP operating income of $3.0 million, an increase of $1.7 million and $2.9 million, respectively
• Adjusted EBITDA of $4.4 million increased $3.0 million
• Cash, cash equivalents and restricted cash of $37.4 million as net cash increase of $1.2 million compared to fiscal 2017 year-end

Commenting on the Company's fiscal 2018 fourth quarter results and business activity, Michael Pangia, President and Chief Executive Officer of Aviat Networks stated, "We had a strong fiscal fourth quarter as we delivered non-GAAP operating income of $3.0 million and Adjusted EBITDA of $4.4 million, significant increases over fiscal 2017, marking one of our stronger quarters over the past several years. What drove bottom-line performance was exceptionally strong gross margins both year-over-year and sequentially. We enter fiscal 2019 expecting growth and improved profitability. Further, our solution set and competitive position is among the best in our Company's history."

GUIDANCE:

Aviat Networks sees FY2019 revenue of $255-265 million, versus the consensus of $0 million.

For earnings history and earnings-related data on Aviat Networks (AVNW) click here.

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