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Ceragon Networks Reports Solid Q2 Aided By Strong Bookings; Sees Strong FY21 Revenue

  • Ceragon Networks Ltd (NASDAQ: CRNTreported second-quarter FY21 revenue growth of 9.9% year-on-year to $68.6 million, beating the analyst consensus of $65.1 million.
  • The gross margin expanded 550 bps to 31.9%, primarily from a favorable customer mix.
  • Non-GAAP loss per share of $(0.01) beat the analyst consensus for a loss of $(0.04).
  • The company held $28.7 million in cash and equivalents. It used $2.96 million in cash from operating activities.
  • Ceragon had a strong quarter in terms of bookings, especially in North America, India, and Europe.
  • It accomplished sixteen 5G design wins to date. The company said it is participating in more OpenRan trials.
  • Outlook: Ceragon Networks expects FY21 revenue on the higher end of its prior view of $275 million – $295 million compared to the analyst consensus of $284.2 million.
  • Price action: CRNT shares traded higher by 3.00% at $4.12 on the last check Monday.

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