- Ceragon's (NASDAQ:CRNT) job cuts, along with other cost-cutting efforts, are meant to lower the company's quarterly opex to $21M-$22M by Q2 2015 from a current $26M-$27M.
- Thanks to the cuts, Ceragon is now aiming to become profitable by Q2; the 2015 EPS consensus is right at breakeven. A $10M-$12M Q4 charge is expected.
- Also: Ceragon says it expects to record $19M in "additional financial expense" in Q4, thanks to a $20M Venezuelan forex charge. The charge is blamed on "continued Venezuelan government policy that limits our customers' ability to pay such receivables in U.S. dollars."