LITTLE FALLS, New Jersey,
Sept. 28, 2018 /PRNewswire/ --
Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul
specialist, today announced that it has signed commercial
agreements with Orocom, a new operator in Peru, to provide broadband connectivity to
millions of Peruvians in rural regions. Ceragon will deliver
end-to-end carrier-grade wireless broadband networks to the rural
regions of Junín, Puno and Moquegua-Tacna. While these commercial
agreements will provide orders valued at approximately $25 million, in addition to approximately
$1 million in order already received,
total orders from this project may reach as much as $36 million. Ceragon expects to recognize most of
the revenues from this project in the next two years.
The Peruvian Government (FITEL) chose Orocom for the deployment
of transport and broadband access networks in three of six regions,
using both fiber and wireless technologies. Orocom is owned by a
consortium of companies, comprising telecommunications license
holders as well as companies with expertise in fiber-based
technologies. With a growing footprint and past experience
deploying high-capacity wireless backbones for service providers in
Peru, Ceragon played a major role
in helping the consortium win the project by providing advisory
services and the initial planning of the wireless networks for this
project.
With its vast expertise in wireless networks, Ceragon will
provide wireless backhaul and wireless access solutions including
network design, equipment, deployment and integration services, as
well as advisory services. For wireless backhaul equipment, Ceragon
will provide its IP-20 Platform, which allows for a quick, scalable
and reliable network rollout in challenging harsh terrains, such as
the Andes mountains, overcoming microwave signal propagation
challenges over the lakes and deserts of South Peru. For broadband wireless access
Ceragon will provide equipment for delivering high speed internet
and enterprise data services to government, healthcare, education
and public safety institutions in the region.
"This project is critical to the economy of Peru as it will substantially improve
connectivity among public institutions, private organizations and
the general Peruvian population that lives in these rural regions,"
said Ira Palti, president and CEO of
Ceragon. "We are excited to have been instrumental in helping form
Orocom, being selected as the principal technology partner for this
project and participating in fulfilling FITEL's requirements to
secure its execution. Our global end-to-end expertise in wireless
networks design, rollout and optimization will help ensure a quick
and efficient network rollout with the highest availability and
reliability, bridging the digital divide for millions in rural
Peru."
For additional information related to this project, including
certain guarantees granted by Ceragon in the framework thereof -
please refer to footnote 1e in Ceragon's 6-K that was filed
today.
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 4G, mission-critical multimedia services
and other applications at high reliability and speed. Ceragon's
unique multicore technology provides highly reliable, high-capacity
4G wireless backhaul with minimal use of spectrum, power and other
resources. It enables increased productivity, as well as simple and
quick network modernization. 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.
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Safe Harbor
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" as
defined in 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.
Examples of forward-looking statements include: projections of
revenues, net income, gross margin, capital expenditures and
liquidity, competitive pressures, 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 risks associated with a decline
in revenues due to our focus on a single market segment; risks
relating to the concentration of Ceragon's business in certain
geographic regions such as India,
and in other developing nations; risk relating to certain
guarantees granted by Ceragon on behalf of Orocom to FITEL,
in the framework of the FITEL project; political, economic and
regulatory risks from doing business in those developing regions,
including potential currency restrictions and fluctuations; risks
related to our ability to meet the demand for our products due
shortages in raw materials including certain passive components;
risks associated with a change in Ceragon's gross margin as a
result of changes in the geographic mix of revenues and/or as a
results of increase in costs of raw material, including certain
passive components; risks associated with the loss of a single
customer or customer group, which represents a significant portion
of Ceragon's revenues; risks associated with Ceragon's failure to
effectively compete with other wireless equipment providers; and
other risks and uncertainties detailed from time to time in
Ceragon's Annual Report on Form 20-F 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. We do not
assume any obligation to update any forward-looking
statements.
Media Contact:
Tanya
Solomon
Ceragon Networks
Tel: +972-3-543-1163
tanyas@ceragon.com
Investor Contact:
Claudia
Gatlin
Tel. +1-212-830-9080
claudiag@ceragon.com
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SOURCE Ceragon Networks Ltd.