Aviat Networks, a leading expert in wireless transport and access solutions, reported strong financial results for its fiscal 2024 fourth quarter and full year ended June 28, 2024. The company’s performance showcased robust growth across multiple key metrics.
Fourth Quarter Highlights:
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Revenue Surge:
Aviat Networks achieved total revenues of $116.7 million for the fourth quarter, representing a remarkable 28.1% increase compared to the same period in the previous year. This growth was driven by a combination of factors, including continued execution on private network projects in North America and the positive impact of the Pasolink acquisition, which significantly boosted international revenue.*
EBITDA Expansion:
Adjusted EBITDA for the fourth quarter reached $11.9 million, demonstrating strong profitability and operational efficiency. The Pasolink acquisition contributed positively to both Adjusted EBITDA and non-GAAP net income for the quarter.*
Strategic Wins:
Aviat Networks secured a statewide win with a new public safety customer, successfully converting the customer from a legacy incumbent provider.Full Year Highlights:
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Continued Growth Trajectory:
Total revenues for the full fiscal year ended June 28, 2024, reached $408.1 million, representing an 18.5% increase compared to the previous year. This growth was fueled by both North American and international market expansion.*
Profitability Improvement:
Adjusted EBITDA for the full year reached $48.1 million, demonstrating continued profitability and operational efficiency.Fiscal 2025 Guidance:
Aviat Networks expressed confidence in its future performance by providing guidance for fiscal 2025. The company projects full-year revenue between $450 million and $490 million and Adjusted EBITDA between $46.0 million and $52.0 million.
Key Growth Drivers:
Aviat Networks’ success in the fourth quarter and throughout fiscal 2024 was driven by a number of key factors, including:
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Strong Demand for Private Networks:
The company continues to capitalize on the growing demand for private networks in various sectors, including public safety, utilities, and government.*
Strategic Acquisitions:
The acquisition of Pasolink has been a strategic move for Aviat Networks, expanding its global reach and product portfolio.*
Focus on Innovation:
The company remains committed to delivering cutting-edge wireless transport and access solutions, ensuring it stays ahead of the technological curve.Looking Ahead:
With a strong track record of growth and a commitment to innovation, Aviat Networks is well-positioned for continued success in the wireless transport and access market. The company’s strategic initiatives, combined with its focus on providing high-quality products and services, will continue to drive its expansion and profitability in the years to come.
Conference Call Details:
Aviat Networks will host a conference call on October 7, 2024, at 8:30 a.m. Eastern Time (ET) to discuss its financial and operational results in detail. Interested parties can access the live webcast through the company’s Investor Relations website or participate via telephone by registering online.
