By Aviat Networks, a wireless transport provider based in Austin, Texas, saw a significant increase in its stock value following improved second-quarter sales and an optimistic update to its full-year guidance.
Impressive Stock Performance
The company’s stock experienced a substantial rise of nearly 20% to $36 on Wednesday. This increase adds to the overall growth of 10.3% since the beginning of the year.
Upgraded Revenue Forecast
Aviat Networks now expects its revenue for the year to range between $425 million and $432 million, surpassing its previous outlook of $367 million to $374 million. This positive adjustment demonstrates the company’s confidence in its continued success.
Strong Second Quarter Results
In the second quarter, which ended on December 29th, Aviat’s revenue increased by 4.8% compared to the previous year, reaching $95 million. The company achieved a profit of $2.89 million, equivalent to 24 cents per share. This is a notable improvement from the profit of $6.05 million, or 51 cents per share, reported during the same period last year.
CEO’s Satisfaction and Acquisition
Pete Smith, the Chief Executive Officer of Aviat Networks, expressed his satisfaction with the company’s performance. He emphasized significant growth in revenue and gross margin, which ultimately led to a record-setting adjusted EBITDA margin. Furthermore, Aviat Networks successfully completed its acquisition of the NEC Wireless business.
Aviat Networks’ strong sales and improved financial outlook position the company for continued success within the wireless transport industry.
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