- Aviat (AVNW -25.5%) badly missed FQ3 estimates and (citing poor visibility) declined to provide FQ4 guidance. The company also stated its cash balance fell by $17.2M Q/Q to $47.5M, and that it's addressing liquidity issues by "taking steps" to improve its cost structure and working capital management.
- On the CC (transcript), Aviat noted African sales fell 42% Y/Y, something it blames on weak carrier spending. Nonetheless, the company's overall book-to-bill was "substantially above 1."
- Other providers of microwave/backhaul hardware for carriers are also selling off on yet another rough day for high-beta tech stocks. UBNT -3.3%. CRNT -4.5%. DRWI -5.1%.
- Ubiquiti and Ceragon report tomorrow, and DragonWave on May 14.