Aviat Networks (AVNW) Reports Q4 Loss of $0.03, Miss on Revenues; Offers 1Q & FY18 Guidance

September 6, 2017 4:14 PM

Aviat Networks (NASDAQ: AVNW) reported Q4 EPS of ($0.03). Revenue for the quarter came in at $58.25 million versus the consensus estimate of $70 million.

Fiscal 2018 First Quarter Outlook

The Company anticipates revenue to be in the range of $57.0 million to $60.0 million for the first quarter of fiscal 2018. Non-GAAP gross margins are anticipated to be between 30.0% and 31.0% for the first quarter of fiscal 2018, and Non-GAAP operating expenses are expected to be in the range of $18.2 million to $18.5 million for the first quarter of fiscal 2018, with the range dependent upon the top-line. This would result in positive Adjusted EBITDA in the range of $0.5 million to $1.0 million for the first quarter of fiscal 2018.

Fiscal 2018 Full Year Outlook

The Company anticipates revenue to be in the range of $245.0 million to $260.0 million, which would equate to a 1.0 % to 8.0% increase year-over-year. For fiscal year 2018, Non-GAAP gross margin is expected to be approximately in the range of 31.5% to 32.5% and Non-GAAP operating expenses are expected to be in the range of $72.0 million to $75.0 million. The Company further anticipates that if revenues come in on the low-end of the range, gross margins and spending will be at the more favorable end of the ranges provided, thus resulting in non-GAAP operating income of approximately $5.0 million to $7.0 million for fiscal year 2018. Similarly, this would result in positive Adjusted EBITDA of approximately $11.0 million to $13.0 million for fiscal year 2018, representing a 45.0% to 71.0% increase year-over-year.

Fiscal 2017 vs. Fiscal 2016 Full-Year Results Comparisons

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Earnings Guidance Management Comments