Ceragon Networks (CRNT) Tops Q1 EPS by 1c, Revenues Beat

Ceragon Networks (NASDAQ: CRNT) reported Q1 EPS of $0.04, $0.01 better than the analyst estimate of $0.03. Revenue for the quarter came in at $83.3 million versus the consensus estimate of $79.78 million.

First Quarter 2018 Highlights

• Revenues - $83.3 million, up 9.5% from the first quarter of 2017, and down 3.9% from the fourth quarter of 2017.
• Gross margin – 33.1%, compared to 29.3% in the first quarter of 2017 and 33.6% in the fourth quarter of 2017.
• Operating income - $5.4 million, compared to $2.0 million in the first quarter of 2017 and $7.5 million in the fourth quarter of 2017.
• Net income (loss) - net income of $2.1 million, or $0.03 per diluted share for the first quarter of 2018. Net loss for the first quarter of 2017 was $(0.1) million, or $(0.00) per diluted share. Net income for the fourth quarter of 2017 was $7.2 million or $0.09 per diluted share.
• Non-GAAP results - gross margin was 33.2%, operating income was $5.7 million, and net income was $3.0 million, or $0.04 per diluted share. For reconciliation of GAAP to non-GAAP results, see the attached tables.
• Cash and cash equivalents - $26.0 million at March 31, 2018, compared to $25.9 million at December 31, 2017.

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

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