LITTLE FALLS, New Jersey,
December 4, 2017 /PRNewswire/ --
Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul
specialist, today announced that it has recently received
$66 Million in orders for its IP-20
Platform from a tier 1 operator in India. This order brings the total orders for
Ceragon's products and related professional services from tier 1
operators in India to over
$100 million during the second half
of 2017. India's tier 1 operators
continue to rely on the capabilities of the IP-20 Platform to
accomplish massive wireless backhaul network expansions as quickly
and simply as possible, while also providing the foundation for
future network densification. Ceragon helps India's operators to address the data boom
challenge from their rapidly growing subscriber base - which is
expected to aggressively continue over the next 2 years.
Shipments for these $66 Million
follow-on orders will begin in December, and the company expects to
be able to recognize approximately $10
million in revenue from these orders in the fourth quarter
of 2017, with the balance of the revenue expected to be recognized
mainly during the first half of 2018. The receipt of these
orders improves management's visibility and reinforces its
confidence in the expectation of a quarterly revenue run rate of
between $75 and $80 million for the fourth quarter of 2017 and
into 2018, as indicated during the third quarter results conference
call on November 6, 2017.
By deploying IP-20 Platform Multicore backhaul radios, the
operator can simplify installation and commissioning while
providing high performance to deliver 4G services coverage with 500
Mbps to 1Gbps wireless backhaul as required in both urban and rural
environments. To support the operator's plans to aggressively
expand its customer base, the IP-20 Platform enables 1-click
doubling of capacity remotely, without the need to visit the sites,
as well as achieving more capacity with one quarter of the amount
of spectrum otherwise required. Ceragon's Multicore technology
addresses this operator's focus on building a future-proof network
that is ready to support LTE-Advanced-Pro massive MIMO with 2Gbps
capacity over the backhaul infrastructure. This will allow it to
further expand services and increase speeds to its subscribers
while overcoming spectrum constraints that are typical in this
region.
According to the GSMA, a prominent industry association,
India is the fastest growing
mobile market in the world, measured by subscriber growth. Its most
recent report indicates that India
is expected to add more than 200 million subscribers by 2020
(compared to the end of 2016), reaching only 65% penetration by
that date. A second trend not captured by this statistic is the
transformation of subscriber behavior from using mainly voice
services to becoming consumers of vast amounts of data as
network-based services become an essential part of everyday life.
The combination of these two trends is causing a data boom that is
posing significant challenges to all mobile operators in the
region.
"Mobile operators in India face
multiple challenges based on the need to address immediate
requirements driven by the developing data boom, while also
planning for future capacity needs in a dynamic market of rapid
subscriber growth and scarce spectrum resources," said Ira Palti, president and CEO of Ceragon. "Our
IP-20 Platform is ideal to address these varied backhaul challenges
simultaneously, and we are proud to again support a new phase in
this massive multi-year rollout. The major role Ceragon is playing
in the region is illustrated by these new orders, together with
several large orders from this customer and other Indian operators
received earlier in the year."
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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Ceragon Networks® and FibeAir® are registered trademarks of
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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; the risk of a decrease in
the amount of business coming from a certain geographic region,
from which a significant portion of Ceragon's
business is generated; the risk associated with the a change in
Ceragon's gross margin as a result of changes in the
geographic mix of revenues; the risk associated with the loss of a
single customer or customer group, which represents a significant
portion of Ceragon's revenues; the risk associated
with Ceragon's failure to effectively compete with
other wireless equipment providers; the risk relating to the
concentration of Ceragon's business in India, Latin
America, Africa, and in
developing nations and the political, economic and regulatory risks
from doing business in those regions, including potential
currency restrictions; 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
SOURCE Ceragon Networks Ltd