Aviat Networks, Inc. (AVNW) stock prices were up 3.81% as of market close on May 5th 2021, bringing the price per share up to USD$34.03 at the end of the trading day.
Updates to WTM4000 Radio Platform
Q3 2021 saw AVNW launch new software for its flagship Aviat WTM4000 radio platform. The newly implemented software doubled the capacity of a microwave link without customers needing to upgrade or add additional equipment. The company has also reported continued year-over-year increases in quarterly revenue and Adjusted EBITDA as a result of their continued execution on essential long-term strategic objectives.
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Quarterly Improvements in Revenue
In their financial reports for the third fiscal quarter of 2021 ended April 2nd, 2021, AVNW reported USD$66.4 million in total revenues for the third quarter of the fiscal year 2021. This is comparable to the USD$61.4 million reported in the same quarter of the prior fiscal year, representing a year-over-year increase of 8.2%. Of the total, USD$42 million was derived from North American markets, while the rest was international revenue.
AVNW Revenue in 2021 To Date
Revenues for the 9 month period ended April 2nd 2021 reported total revenues of USD$203.2, a significant increase from the USD$176 million reported in the comparable fiscal 2020 period. Revenue generated from North American markets was up 20.4%, representing the largest chunk of the difference. International markets generated revenues that were 6.55 higher than the USD$62.5 million reported for the comparable fiscal 2020 period.
Higher Gross Margin
The third quarter of the fiscal year 2021 reported a GAAP gross margin of 38.5%, representing a 270 basis point improvement over the 35.9% reported in the comparable fiscal 2020 period. Over the course of the 9 month period ended April 2nd 2021, GAAP gross margin was reported to be 37.8%, a 210 basis point improvement over reports from the comparable fiscal year 2020.
Solid Liquidity Position
As of April 2nd 2021, AVNW reported having USD$45.8 million in cash and cash equivalents at their disposal, up from the USD$43 million reported as of January 1st 2021. With no outstanding debt, the company finds itself in a promising liquidity position that it can invest in further growth. Q3 2021 saw the company circumvent potential supply chain challenges by increasing its inventory by USD$4.3 million to build safety stock.
Future Outlook for AVNW
With recent financial reports indicating a strong pattern of growth, AVNW is confident in the continued trajectory of success. Current and potential investors are hopeful for the company’s ability to leverage its resources to enable further sustained and significant increases in shareholder value.
