Aviat Networks, Inc. (AVNW) Misses Q1 EPS by 5c

October 30, 2013 4:55 PM
Aviat Networks, Inc. (NASDAQ: AVNW) reported Q1 EPS of ($0.13), $0.05 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $93.4 million versus the consensus estimate of $98 million.

"We are disappointed with Aviat's performance in the fiscal first quarter of 2014. While we see an improving pipeline of new business, we are formulating plans to lower the Company's costs with the goal of reducing the Company's revenue breakeven level," says Michael Pangia, president and CEO, Aviat Networks. "We expect that both our mobile and non-mobile business will build over the next several quarters as our new products ramp, and we remain confident in our ability to grow the Company over the medium and long term."

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