Aviat Networks Inc. (NASDAQ: AVNW) stock plunged by 1.3% at last close while AVNW stock-price declines by 5.73% in the after-hours trading session. Aviat Networks is a highly expert in wireless transport services, and it strives to give its clients solid products, services, and support.
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AVNW stock’ Financial Highlights
Aviat Networks announced its second-quarter 2021 financial results. Given below is the summary:
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- The Company generated total revenues of $71.7 million in the fourth quarter of fiscal 2021, up from $62.7 million in the same quarter of fiscal 2020, a $9.0 million increase or 14.4%. However, for the full-year fiscal 2021 AVNW reported its total revenues as $274.9 million relatives to $238.6 million in the prior fiscal year.
- AVNW recorded a GAAP gross margin of 36.1 percent and a non-GAAP gross margin of 36.2 percent in the fourth quarter of fiscal 2021. The Company reported a GAAP gross margin of 37.3 percent and a non-GAAP gross margin of 37.5 percent for the year ended July 2, 2021.
- Total operational costs for the fourth quarter of fiscal 2021 were $22.1 million, up $2.4 million or 12.2 percent from $19.7 million in the same quarter of fiscal 2020. The Company announced $80.4 million in GAAP total operating expenditures for the fiscal year ended July 2, 2021, a decrease of $0.9 million or 1.1 percent from $81.3 million in the same fiscal 2020 period.
- In the fourth quarter of fiscal 2021, the Company earned $2.8 million in GAAP net income of $0.24 per share. In the corresponding fiscal 2020 period, GAAP net income was $1.1 million and GAAP net income per share was $0.10.
- Adjusted profits before interest, taxes, depreciation and amortization for the fourth quarter of fiscal 2021 were $7.0 million, up from $5.5 million in the comparable fiscal 2020 period, a $1.4 million increase year over year.
- The Company reported Adjusted EBITDA of $32.8 million for the fiscal 2021 year ended quarter, up from $13.5 million in the comparable fiscal 2020 period, a $19.3 million year-over-year improvement.
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Financial Guidance
Revenues for fiscal 2022 are expected to be between $283 million to $293 million, with Adjusted EBITDA in the range of $35 million to $38 million. This forecast is supported by the recent state of the supply chain.