LITTLE FALLS, New Jersey,
Feb. 10, 2020 /PRNewswire/ -- Ceragon
Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul specialist
today reported results for the fourth quarter and full year ended
December 31, 2019.
Fourth Quarter 2019 Highlights:
Revenues - $71.3 million, down 16.9% from the fourth
quarter of 2018, and down 1.3% from the third quarter of 2019.
Gross margin – 31.7%, compared to 34.4%
in the fourth quarter of 2018 and 32.2% in the third
quarter of 2019.
Operating income (loss) - $(2.2) million, compared
to operating income of $6.5 million
in the fourth quarter of 2018, and operating income of
$2.1 million in the third quarter of
2019.
Net income (loss) - $(4.1) million, or $(0.05) per diluted share for the fourth quarter
of 2019, compared to net income of $11.6
million, or $0.14 per diluted
share, in the fourth quarter of 2018. Net income for the third
quarter of 2019 was $0.2 million, or
$0.00 per diluted share.
Non-GAAP results – Gross margin was 31.3%, operating loss
was $(2.1) million, and net loss was
$(5.0) million, or $(0.06) per diluted share. For reconciliation of
GAAP to non-GAAP results, see the attached tables.
Non-GAAP results excluding one-time items – Gross
margin was 34.1%, operating income was $1.2
million, and net loss was $(1.7)
million, or $(0.02) per
diluted share.
Cash and cash equivalents - $23.9
million at December 31, 2019,
compared to $20.5 million at
September 30, 2019.
Full Year 2019 Highlights:
Revenues – $285.6
million, down 17.0% from 2018.
Gross margin – 33.9%, compared to 33.8% in 2018.
Operating income – $7.3
million, compared to an operating income of $26.1 million in 2018.
Net income (loss) – $(2.3) million, or
$(0.03) per diluted share. Net income
for 2018 was $23.0 million, or
$ 0.28 per diluted share.
Non-GAAP results - gross margin was 33.8%, operating
income was $9.0 million, and net
income was $0.1 million, or
$0.00 per diluted share. For
reconciliation of GAAP to non-GAAP results, see the attached
tables.
Non-GAAP results excluding one-time items – gross
margin was 34.5%, operating income was $12.3
million, and net income was $3.4
million, or $0.04 per diluted
share.
"Revenue in 2019 declined primarily due to region-specific
issues affecting operators in India, causing a significant slowdown after
several very strong years," said Ira Palti
President and CEO of Ceragon. "Excluding India, revenue from
the rest of the world increased by approximately 11% compared to
2018, and we believe we are gaining market share. The most
significant accomplishment of 2019 was obtaining several important
new 5G design wins, including one through a new relationship with a
very large Tier 1 U.S. operator. Given the long planning and
project cycles, these new design wins are likely to begin
contributing meaningfully to revenue only in late 2020 and
beyond.
"We are targeting revenue growth in 2020, although we are off to
a slow start. We are expecting a sequential decline in Q1 revenue,
based on a Q4 book-to-bill below 1:1 plus typical seasonal factors
negatively affecting Q1. For the remaining quarters of the
year, we continue to expect a $70-$75 million
average quarterly revenue run rate, with a more favorable
geographic mix leading to higher gross margin in 2020 versus 2019.
We are also targeting better net income for 2020, as well as
positive cash flow."
"Our outlook for the coming months, is clouded by the effects of
the outbreak of the novel coronavirus in Asia and particularly in China. Our
supply chain could be significantly impacted and our customers
could be negatively affected. However, as the impact is too early
to determine, we have not addressed it in our forward-looking
statements.
"Looking forward beyond 2020," Mr. Palti added, "we have the
only value proposition designed for our customers to unlock their
5G potential."
Supplemental geographical breakdown of revenue for:
Fourth quarter 2019:
·
Europe:
|
15%
|
·
Africa:
|
7%
|
· North
America:
|
13%
|
· Latin
America:
|
31%
|
·
India:
|
16%
|
·
APAC:
|
18%
|
Full year 2019:
·
Europe:
|
15%
|
·
Africa:
|
9%
|
· North
America:
|
15%
|
· Latin
America:
|
25%
|
·
India:
|
17%
|
·
APAC:
|
19%
|
A conference call will follow beginning at 9:00 a.m. EST. Investors are invited to join the
company's teleconference by calling (USA) (844) 291-6360 or international +1 (234)
720-6993 and using the following access code: 6063623.
Investors can also listen to the call live via the Internet by
accessing Ceragon Networks' website on the webcasts page in the
section for investors: www.ceragon.com/investors/webcasts/
selecting the webcast link, and following the registration
instructions.
If you are unable to join us live, the replay numbers are:
(USA) (866) 207-1041
(International) +1 (402) 970-0847, with access code: 5075947. This
audio replay will be available through March
10, 2020.
About Ceragon Networks Ltd.
Ceragon Networks Ltd. (NASDAQ: CRNT) is the #1 wireless backhaul
specialist. We help operators and other service providers worldwide
increase operational efficiency and enhance end customers' quality
of experience with innovative wireless backhaul solutions. Our
customers include wireless service providers, public safety
organizations, government agencies and utility companies, which use
our solutions to deliver 5G & 4G, mission-critical multimedia
services and other applications at high reliability and speed.
Ceragon's unique multicore technology and disaggregated approach
to wireless backhaul provides highly reliable, fast to deploy,
high-capacity wireless backhaul for 5G and 4G networks with minimal
use of spectrum, power and other resources. It enables increased
productivity, as well as simple and quick network modernization,
positioning Ceragon as a leading solutions provider for the 5G era.
We deliver a range of professional services that ensure efficient
network rollout and optimization to achieve the highest value for
our customers. Our solutions are deployed by more than 460 service
providers, as well as hundreds of private network owners, in more
than 130 countries.
Join the Discussion
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Twitter: https://twitter.com/Ceragon
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Ceragon Networks® and FibeAir® are registered trademarks of
Ceragon Networks Ltd. in the United
States and other countries. CERAGON ® is a trademark of
Ceragon Networks Ltd., registered in various countries. Other names
mentioned are owned by their respective holders.
This press release contains statements concerning Ceragon's
future prospects that are "forward-looking statements" within the
meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934, as amended, and the safe-harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on the current beliefs,
expectations and assumptions of Ceragon's management about
Ceragon's business, financial condition, results of operations,
micro and macro market trends and other issues addressed or
reflected therein. Examples of forward-looking statements include:
projections of demand, revenues, net income, gross margin, capital
expenditures and liquidity, competitive pressures, order timing,
growth prospects, product development, financial resources, cost
savings and other financial matters. You may identify these and
other forward-looking statements by the use of words such as "may",
"plans", "anticipates", "believes", "estimates", "targets",
"expects", "intends", "potential" or the negative of such terms, or
other comparable terminology. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including the risks relating to the
concentration of a significant portion of Ceragon's expected
business in certain geographic regions and particularly in
India, where a small number of
customers are expected to represent a significant portion of our
revenues, including the risks of deviations from our expectations
of timing and size of orders from these customers; the risk that
the current slowdown in revenue from India could extend for a longer period than
anticipated; the risk of delays in converting design wins into
revenue as well as the expected revenue growth; the risk of a
disruption to our and our customers' business related to the
outbreak and potential spread of the novel coronavirus; risks
associated with any failure to meet our product development
timetable and specifications, and to maintain our technological
advantage over our competitors; risks associated with any failure
to effectively compete with other wireless equipment providers; the
risk that the rollout of 5G services could take longer or
differently than anticipated; and other risks and uncertainties
detailed from time to time in Ceragon's Annual Report on Form 20-F,
Item 3, under the caption "Risk Factors", and Ceragon's other
filings with the Securities and Exchange Commission, that represent
our views only as of the date they are made and should not be
relied upon as representing our views as of any subsequent date.
Such forward-looking statements do not purport to be predictions of
future events or circumstances, and therefore, there can be no
assurance that any forward-looking statement contained in our
announcements, presentations, or commentary will prove to be
accurate. We do not assume any obligation to update any
forward-looking statements.
-tables follow-
Ceragon Reports
Fourth Quarter and Year End 2019 Results
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(U.S. dollars in
thousands, except share and per share data)
|
(Unaudited)
|
|
|
|
Three months
ended December
31,
|
|
Year
ended December
31,
|
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
|
|
|
|
|
|
Audited
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$
71,256
|
|
$
85,742
|
|
$
285,583
|
|
$
343,874
|
Cost of
revenues
|
|
48,646
|
|
56,210
|
|
188,741
|
|
227,705
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
22,610
|
|
29,532
|
|
96,842
|
|
116,169
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Research and
development, net
|
|
7,639
|
|
6,709
|
|
26,793
|
|
28,180
|
Selling and
marketing
|
|
10,130
|
|
11,520
|
|
39,469
|
|
42,961
|
General and
administrative
|
|
7,032
|
|
4,797
|
|
23,278
|
|
18,884
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
$
24,801
|
|
$
23,026
|
|
$
89,540
|
|
$
90,025
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
(2,191)
|
|
6,506
|
|
7,302
|
|
26,144
|
|
|
|
|
|
|
|
|
|
Financial expenses and
others, net
|
|
2,204
|
|
872
|
|
6,521
|
|
6,349
|
|
|
|
|
|
|
|
|
|
Income (loss) before
taxes
|
|
(4,395)
|
|
5,634
|
|
781
|
|
19,795
|
|
|
|
|
|
|
|
|
|
Taxes on income
(benefit)
|
|
(471)
|
|
(5,965)
|
|
2,476
|
|
(3,251)
|
Equity loss in
affiliates
|
|
177
|
|
-
|
|
649
|
|
-
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
(4,101)
|
|
$
11,599
|
|
$
(2,344)
|
|
$
23,046
|
|
|
|
|
|
|
|
|
|
Basic net income (loss)
per share
|
|
$
(0.05)
|
|
$
0.15
|
|
$
(0.03)
|
|
$
0.29
|
Diluted net income
(loss) per share
|
|
$
(0.05)
|
|
$
0.14
|
|
$
(0.03)
|
|
$
0.28
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
computing basic net income (loss) per share
|
|
80,574,892
|
|
79,538,654
|
|
80,296,581
|
|
78,579,013
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
computing diluted net income (loss) per share
|
|
80,574,892
|
|
81,987,796
|
|
80,296,581
|
|
81,021,527
|
Ceragon Reports
Fourth Quarter and Year End 2019 Results
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(U.S. dollars in
thousands)
|
|
|
|
Year ended
December 31
|
|
|
2019
|
|
2018
|
ASSETS
|
|
|
|
Audited
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
23,939
|
|
$
35,581
|
Short - term bank
deposits
|
|
-
|
|
515
|
Trade receivables,
net
|
|
118,531
|
|
123,451
|
Other accounts
receivable and prepaid expenses
|
|
11,033
|
|
12,135
|
Inventories
|
|
62,132
|
|
53,509
|
|
|
|
|
|
Total current
assets
|
|
215,635
|
|
225,191
|
|
|
|
|
|
NON-CURRENT
ASSETS:
|
|
|
|
|
Long-term bank
deposits
|
|
17
|
|
504
|
Deferred tax
assets
|
|
8,106
|
|
7,476
|
Severance pay and pension fund
|
|
5,661
|
|
5,096
|
Property and equipment, net
|
|
34,865
|
|
33,613
|
Intangible assets, net
|
|
7,898
|
|
6,576
|
Other non-current
assets
|
|
17,707
|
|
4,544
|
|
|
|
|
|
Total non-current
assets
|
|
74,254
|
|
57,809
|
|
|
|
|
|
Total assets
|
|
$
289,889
|
|
$
283,000
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$
59,635
|
|
$
78,892
|
Deferred
revenues
|
|
1,734
|
|
3,873
|
Short- term
loans
|
|
14,600
|
|
-
|
Other accounts payable
and accrued expenses
|
|
28,201
|
|
27,256
|
|
|
|
|
|
Total current
liabilities
|
|
104,170
|
|
110,021
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
Deferred tax
liability
|
|
-
|
|
28
|
Accrued severance pay
and pension
|
|
10,907
|
|
9,711
|
Deferred
revenues
|
|
6,265
|
|
-
|
Other long-term
payables
|
|
8,126
|
|
3,672
|
|
|
|
|
|
Total long-term
liabilities
|
|
25,298
|
|
13,411
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
Share
capital:
|
|
|
|
|
Ordinary shares
|
|
215
|
|
214
|
Additional paid-in
capital
|
|
418,062
|
|
415,408
|
Treasury shares at
cost
|
|
(20,091)
|
|
(20,091)
|
Other comprehensive
loss
|
|
(8,666)
|
|
(9,208)
|
Accumulated
deficits
|
|
(229,099)
|
|
(226,755)
|
|
|
|
|
|
Total shareholders' equity
|
|
160,421
|
|
159,568
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
|
$
289,889
|
|
$
283,000
|
|
|
|
|
|
|
|
Ceragon Reports
Fourth Quarter and Year End 2019 Results
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOW
|
(U.S. dollars, in
thousands)
|
(Unaudited)
|
|
|
Three months
ended
December
31,
|
|
Year
ended
December
31,
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
Cash flow from
operating activities:
|
|
|
|
|
|
|
Audited
|
Net income
(loss)
|
$
(4,101)
|
|
$
11,599
|
|
$
(2,344)
|
|
$
23,046
|
Adjustments to
reconcile net income to net cash provided by (used in) operating
activities:
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
2,680
|
|
2,163
|
|
9,691
|
|
7,758
|
Stock-based
compensation expense
|
459
|
|
498
|
|
2,053
|
|
1,980
|
Decrease (increase) in
trade and other receivables, net
|
11,367
|
|
(10,169)
|
|
7,795
|
|
(6,474)
|
Decrease (increase) in
inventory, net of write off
|
5,602
|
|
(6,286)
|
|
(9,475)
|
|
(956)
|
Increase in deferred tax asset, net
|
(1,300)
|
|
(6,949)
|
|
(258)
|
|
(6,601)
|
Increase
(decrease) in trade payables and accrued liabilities
|
(3,517)
|
|
11,815
|
|
(24,814)
|
|
4,402
|
Increase (decrease) in
long and short – term deferred revenues
|
(3,023)
|
|
(4,130)
|
|
4,150
|
|
(650)
|
Other
adjustments
|
440
|
|
(120)
|
|
271
|
|
(11)
|
Net cash provided
by (used in) operating activities
|
$
8,607
|
|
$
(1,579)
|
|
$
(12,931)
|
|
$
22,494
|
Cash flow from
investing activities:
|
|
|
|
|
|
|
|
Purchase of
property and equipment, net
|
(2,476)
|
|
(4,070)
|
|
(11,592)
|
|
(10,303)
|
Purchase of
intangible assets, net
|
(233)
|
|
(588)
|
|
(3,274)
|
|
(3,412)
|
Proceeds from
bank deposits
|
82
|
|
48
|
|
1,002
|
|
48
|
Investment in
shares
|
-
|
|
(1,628)
|
|
-
|
|
(1,628)
|
Net cash used in
investing activities
|
$
(2,627)
|
|
$
(6,238)
|
|
$
(13,864)
|
|
$
(15,295)
|
|
|
|
|
|
|
|
|
Cash flow from
financing activities:
|
|
|
|
|
|
|
|
Proceeds from exercise
of stock options
|
211
|
|
2,048
|
|
602
|
|
2,611
|
Proceeds from
(repayment of) bank credits and loans, net
|
(2,800)
|
|
-
|
|
14,600
|
|
-
|
Net cash
provided by (used in) financing activities
|
$
(2,589)
|
|
$
2,048
|
|
$
15,202
|
|
$
2,611
|
|
|
|
|
|
|
|
|
Translation
adjustments on cash and cash equivalents
|
$
24
|
|
$
28
|
|
$
(49)
|
|
$
(106)
|
Increase
(decrease) in cash and cash equivalents
|
$
3,415
|
|
$
(5,741)
|
|
$
(11,642)
|
|
$
9,704
|
Cash and cash
equivalents at the beginning of the period
|
20,524
|
|
41,322
|
|
35,581
|
|
25,877
|
Cash and cash
equivalents at the end of the period
|
$
23,939
|
|
$
35,581
|
|
$
23,939
|
|
$
35,581
|
Ceragon Reports
Fourth Quarter and Year End 2019 Results
|
|
RECONCILIATION OF
GAAP TO NON-GAAP FINANCIAL RESULTS
|
(U.S. dollars in
thousands)
|
(Unaudited)
|
|
|
|
Three months
ended
|
|
Year
ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2019
|
|
2018
|
|
2019
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP cost
of revenues
|
|
$
|
48,646
|
|
$
|
56,210
|
|
$
|
188,741
|
|
|
$
|
227,705
|
Stock based
compensation expenses
|
|
|
(27)
|
|
|
(9)
|
|
|
(71)
|
|
|
|
(42)
|
Changes in indirect
tax positions
|
|
|
361
|
|
|
(240)
|
|
|
327
|
|
|
|
(278)
|
Non-GAAP cost
of revenues
|
|
$
|
48,980
|
|
$
|
55,961
|
|
$
|
188,997
|
|
|
$
|
227,385
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
|
$
|
22,610
|
|
$
|
29,532
|
|
$
|
96,842
|
|
|
$
|
116,169
|
Gross profit
adjustments
|
|
|
(334)
|
|
|
249
|
|
|
(256)
|
|
|
|
320
|
Non-GAAP gross
profit
|
|
$
|
22,276
|
|
$
|
29,781
|
|
$
|
96,586
|
|
|
$
|
116,489
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Research and
development expenses
|
|
$
|
7,639
|
|
$
|
6,709
|
|
$
|
26,793
|
|
|
$
|
28,180
|
Stock based
compensation expenses
|
|
|
(81)
|
|
|
(103)
|
|
|
(366)
|
|
|
|
(313)
|
Non-GAAP Research and
development expenses
|
|
$
|
7,558
|
|
$
|
6,606
|
|
$
|
26,427
|
|
|
$
|
27,867
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Sales and
Marketing expenses
|
|
$
|
10,130
|
|
$
|
11,520
|
|
$
|
39,469
|
|
|
$
|
42,961
|
Stock based
compensation expenses
|
|
|
(155)
|
|
|
(193)
|
|
|
(708)
|
|
|
|
(640)
|
Non-GAAP Sales and
Marketing expenses
|
|
$
|
9,975
|
|
$
|
11,327
|
|
$
|
38,761
|
|
|
$
|
42,321
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP General and
Administrative expenses
|
|
$
|
7,032
|
|
$
|
4,797
|
|
$
|
23,278
|
|
|
$
|
18,884
|
Changes in indirect
tax positions
|
|
|
-
|
|
|
470
|
|
|
-
|
|
|
|
470
|
Stock based
compensation expenses
|
|
|
(196)
|
|
|
(193)
|
|
|
(908)
|
|
|
|
(985)
|
Non-GAAP General and
Administrative expenses
|
|
$
|
6,836
|
|
$
|
5,074
|
|
$
|
22,370
|
|
|
$
|
18,369
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP financial
expenses and others, net
|
|
$
|
2,204
|
|
$
|
872
|
|
$
|
6,521
|
|
|
$
|
6,349
|
Recovery of
devaluation related expenses in Venezuela
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
969
|
Leases – financial
expenses
|
|
|
(133)
|
|
|
-
|
|
|
(234)
|
|
|
|
-
|
Non-GAAP financial
expenses and others, net
|
|
$
|
2,071
|
|
$
|
872
|
|
$
|
6,287
|
|
|
$
|
7,318
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Tax (income)
expenses
|
|
$
|
(471)
|
|
$
|
(5,965)
|
|
$
|
2,476
|
|
|
$
|
(3,251)
|
Non-cash tax
adjustments
|
|
|
1,272
|
|
|
6,869
|
|
|
182
|
|
|
|
6,343
|
Non-GAAP Tax
expenses
|
|
$
|
801
|
|
$
|
904
|
|
$
|
2,658
|
|
|
$
|
3,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP equity loss in
affiliates
|
|
$
|
177
|
|
$
|
-
|
|
$
|
649
|
|
|
$
|
-
|
Other non-cash
adjustments
|
|
|
(177)
|
|
|
-
|
|
|
(649)
|
|
|
|
-
|
Non-GAAP equity loss
in affiliates
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ceragon Reports
Fourth Quarter and Year End 2019 Results
|
|
RECONCILIATION OF
GAAP TO NON-GAAP FINANCIAL RESULTS
|
(U.S. dollars in
thousands, except share and per share data)
|
(Unaudited)
|
|
|
|
Three months
ended
|
|
Year
ended
|
|
|
|
December
31,
|
|
December
31,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net
income (loss)
|
|
$
|
(4,101)
|
|
$
|
11,599
|
|
$
|
(2,344)
|
|
$
|
23,046
|
|
Stock based
compensation expenses
|
|
|
459
|
|
|
498
|
|
|
2,053
|
|
|
1,980
|
|
Changes in indirect
tax positions
|
|
|
(361)
|
|
|
(230)
|
|
|
(327)
|
|
|
(192)
|
|
Leases – financial
expenses
|
|
|
133
|
|
|
-
|
|
|
234
|
|
|
-
|
|
Non-cash tax
adjustments
|
|
|
(1,272)
|
|
|
(6,869)
|
|
|
(182)
|
|
|
(6,343)
|
|
Recovery of
devaluation related expenses in Venezuela
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(969)
|
|
Other non-cash
adjustment
|
|
|
177
|
|
|
-
|
|
|
649
|
|
|
-
|
|
Non-GAAP net
income (loss)
|
|
$
|
(4,965)
|
|
$
|
4,998
|
|
$
|
83
|
|
$
|
17,522
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP basic net income
(loss) per share
|
|
$
|
(0.05)
|
|
$
|
0.15
|
|
$
|
(0.03)
|
|
$
|
0.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP diluted net
income (loss) per share
|
|
$
|
(0.05)
|
|
$
|
0.14
|
|
$
|
(0.03)
|
|
$
|
0.28
|
|
Non-GAAP diluted net
income (loss) per share
|
|
$
|
(0.06)
|
|
$
|
0.06
|
|
$
|
0.00
|
|
$
|
0.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in computing GAAP
basic net income (loss) per share
|
|
|
80,574,892
|
|
|
79,538,654
|
|
|
80,296,581
|
|
|
78,579,013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in computing GAAP diluted net income (loss)
per share
|
|
|
80,574,892
|
|
|
81,987,796
|
|
|
80,296,581
|
|
|
81,021,527
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in computing
Non-GAAP diluted net income (loss) per share
|
|
|
80,574,892
|
|
|
82,368,838
|
|
|
82,124,615
|
|
|
81,364,897
|
|
Investors:
Osi Sessler
+972-3-5431047
investor@ceragon.com
Media:
Tanya Solomon
+972-3-5431163
media@ceragon.com
View original
content:http://www.prnewswire.com/news-releases/ceragon-networks-reports-fourth-quarter-and-full-year-2019-financial-results-301001832.html
SOURCE Ceragon Networks Ltd