ROSH
HA'AYIN, Israel, May 22, 2023
/PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global
innovator and leading solutions provider of 5G wireless transport,
today announced that Zohar Zisapel, Chairman of the Board,
passed away on Friday, May 19 at the
age of 74.
Mr. Zisapel had been Chairman of the Board since Ceragon's
incorporation in 1996. Zisapel was considered a founding father of
Israel's emergence as a technology
powerhouse. He was a philanthropist in the areas of education,
technology and science. Mr. Zisapel was a winner of the Israel
Defense Prize and was also awarded the Technion Medal for his
lifetime's work contribution to the advancement of humanity, the
welfare of the Jewish People, and the State of Israel.
Doron Arazi, Ceragon CEO,
commented, "I am very saddened by Zohar's passing. Zohar was a
pioneer in the Israeli high-tech industry, driving it to its very
prominent position in the world. He was a tremendous supporter of
Ceragon from the onset and had a major contribution to the
company's evolution to its leading position in the wireless
transport space. We will be forever grateful to Zohar for his
dedication and ongoing support. It has been a privilege for me and
the Board members to work alongside Zohar. The Ceragon family
offers its condolences, prayers, and support to the entire Zisapel
family at this time. Zohar will be greatly missed."
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and
leading solutions provider of 5G wireless transport. We help
operators and other service providers worldwide increase
operational efficiency and enhance end customers' quality of
experience with innovative wireless backhaul and fronthaul
solutions. Our customers include service providers, public safety
organizations, government agencies and utility companies, which use
our solutions to deliver 5G & 4G broadband wireless
connectivity, mission-critical multimedia services, stabilized
communications, and other applications at high reliability and
speed.
Ceragon's unique multicore technology and disaggregated approach
to wireless transport provides highly reliable, fast to deploy,
high-capacity wireless transport for 5G and 4G networks with
minimal use of spectrum, power, real estate, and labor 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 complete portfolio of turnkey
end-to-end AI-based managed and professional services that ensure
efficient network rollout and optimization to achieve the highest
value for our customers. Our solutions are deployed by more than
600 service providers, as well as more than 1,600 private network
owners, in more than 130 countries. For more information please
visit: www.ceragon.com
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.
Safe Harbor
This press release contains statements that constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933, as amended 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, but are not limited to, statements regarding:
projections of demand, revenues, net income, gross margin, capital
expenditures and liquidity, competitive pressures, order timing,
supply chain and shipping, components availability, growth
prospects, product development, financial resources, cost savings
and other financial and market 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, although not all forward-looking
statements contain these identifying words.
Although we believe that the projections reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that our expectations will be obtained or
that any deviations therefrom will not be material. Such
forward-looking statements involve known and unknown risks and
uncertainties that may cause Ceragon's future results or
performance to differ materially from those anticipated, expressed
or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to: the effects of
global economic trends, including recession, rising inflation,
rising interest rates, commodity price increases and fluctuations,
commodity shortages and exposure to economic slowdown; risks
associated with delays in the transition to 5G technologies and in
the 5G rollout; risks relating to the concentration of our business
on a limited number of large mobile operators and the fact that the
significant weight of their ordering, compared to the overall
ordering by other customers, coupled with inconsistent ordering
patterns, could negatively affect us; risks resulting from the
volatility in our revenues, margins and working capital needs,
substantial losses incurred and negative cash flows generated,
which, if continue, may significantly adversely impact our results
of operations and cash flow; the high volatility in the supply
needs of our customers, which from time to time lead to delivery
issues and may lead to us being unable to timely fulfill our
customer commitments; risks associated with inaccurate forecasts or
business changes, which may expose us to inventory-related losses
on inventory purchased by our contract manufacturers and other
suppliers, to increased expenses should unexpected production ramp
up be required, or to write off to parts of our inventory, which
would increase our cost of revenues; and such other risks,
uncertainties and other factors that could affect our results of
operation, as further detailed in Ceragon's most recent Annual
Report on Form 20-F, as published on May 1,
2023, and in Ceragon's other filings with the Securities and
Exchange Commission.
We caution you not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. Ceragon does
not assume any obligation to update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release unless required by law.
Ceragon's public filings are available on the Securities and
Exchange Commission's website at www.sec.gov and may also be
obtained from Ceragon's website at www.ceragon.com.
Investor & Media Contact:
Rob Fink or Bob
Meyers
FNK IR
Tel. 1+646-809-4048
crnt@fnkir.com
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SOURCE Ceragon Networks Ltd.