Ceragon Networks (NASDAQ: CRNT) reported Q4 EPS of ($0.04), $0.04 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $74 million versus the consensus estimate of $72.12 million.

Q4 2020 Financial Highlights:

• Revenues of $74.0 million
• Operating Income (loss) of $(1.5) million on a GAAP basis, or $0.5 million on a non-GAAP basis
• EPS of $(0.08) per diluted share on a GAAP basis, or $(0.04) per diluted share on a non-GAAP basis
• Cash flow provided by operating activities of $11.1 million; Returned $11.9M of short-term loans

Q4 2020 Business Highlights:

• Revenues return to normal run-rates as customers begin to accelerate network deployment in response to strong global demand for connectivity
• From five 5G design wins in Q3 2020 to nine 5G design wins in Q4 2020, across all geographies
• Accelerated 5G tailwinds and increased OpenRAN momentum expected to drive multi-year growth
• Provides outlook for 2021

  • We are targeting revenue growth in 2021. Although we expect a slow start for the first half of the year, we continue to expect yearly revenue to be between $275-$295 million.

Ira Palti, President & CEO, commented: "2020 was a unique year, to say the least. Given the mass exodus to remote work, back-to-back lockdowns, and reduced travel, online services have become more important and in-demand than ever before. Fueled by this 'new normal,' there arose a strong global demand for connectivity which drove telcos to accelerate their evolution to 5G."

"As the recognized best-in-class provider of wireless hauling solutions, we believe we are ideally positioned to provide operators with everything they need to make this 5G transition successful: the technology, including both our signature IP-50 Platform available today, and our advanced 5G hauling chipset which we expect to complete tape-out during the first half of 2021 and be integrated into our advanced 5G solutions in 2022; the expertise, ranging from regulatory and deployment strategy to design and more; and finally the on-the-ground deployment and operational services. In fact, we are already in progress with large 5G network development processes moving us from design wins to proof of concepts and purchase orders."

"At Ceragon, we have a history of benefitting from the transition between wireless generations, first as 2G moved to 3G, and later when 3G transitioned to 4G. As the new 5G technology builds momentum, we believe we will do again what we do best: leverage this transition to take our company story to the next level."

For earnings history and earnings-related data on Ceragon Networks (CRNT) click here.