SA News • Thu, Dec. 11
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From other sites
at MarketWatch.com (Aug 25, 2011)
at MarketWatch.com (Feb 4, 2011)
Aviat Networks: Say No To Lone Star Proxy, Yes To Industry Consolidation
- Lone Start Value Management has filed a proxy supporting an alternative slate of board members in view of Aviat's poor performance.
- Evidence shows Aviat's performance has in fact been in-line and even superior to other specialist microwave vendors indicating problem is with industry rather than management.
- Proposed slate of board members from Lone Star is extremely weak and may accelerate problems at Aviat.
- Industry change is called for but changing the board at this time accomplishes nothing and therefore the incumbent board should be re-elected.
Why I'm Buying Aviat Networks Hand Over Fist
- Net cash represents nearly 70% of market capitalization.
- Currently trades for just 7% of revenue (EV/Revenue basis).
- Trades 30% below tangible book value.
- Management forecasting a return to profitability during second half of calendar 2014.
- Bullish long-term outlook in a growing industry.
Aviat Networks: This $1 Tech Stock Is Too Cheap To Ignore And Trading Near Cash Value
- This beaten down tech stock is too cheap to ignore at just about $1.50 per share, especially as it has over $1 per share in cash on the balance sheet.
- Aviat Networks has announced a significant cost savings program that is expected to save $18 to $20 million annually, which should contribute to profitability.
- This company has also been awarded a number of significant contracts and it sees a "growing pipeline of sales" which should boost financial results and the share price.
Aviat Networks Has a Lot to Prove: Sell, Watch and Wait
Thu, Dec. 11, 10:43 AM
- Though it posted an FQ1 miss and offered below-consensus FQ2 guidance yesterday afternoon, Aviat (NASDAQ:AVNW) has rallied towards $1.50.
- On the CC (transcript), CEO Mike Pangia stated Aviat expects bookings to "improve and continue improving for the remainder of [FY15], driven by strength in the Americas, Asia-Pacific and Africa." Regarding Africa, he insisted Aviat is "confident regarding our position as a strategic partner to [major regional carrier] MTN," whose orders have come under pressure recently.
Wed, Dec. 10, 4:44 PM
- In addition to missing FQ1 estimates, Aviat (NASDAQ:AVNW) is guiding for FQ2 revenue of $85M-$90M, below a $90.2M consensus.
- FQ1 gross margin rose 150 bps Y/Y to 26.6%. R&D spend fell to 8% of revenue from 10.2%, while sales/admin spend rose to 22.7% from 22.5%.
- Aviat's cash balance fell by $6.4M Q/Q to $42.4M. Nonetheless, the company expects to close FQ2 with a balance "equal to or slightly higher than" $42M.
- Shares haven't moved yet AH. They rose 3.6% in regular trading ahead of the report.
- FQ1 results, PR
Wed, Dec. 10, 4:08 PM
Wed, Dec. 10, 2:05 PM
- Aviat (NASDAQ:AVNW) is up sharply ahead of this afternoon's FQ1 report. Volume is pretty light (95K shares thus far vs. a 3-month average of 330K).
- The RF backhaul hardware provider's shares are 6% below where they traded before it provided mixed FQ4 results and light FQ1 guidance in early September.
Tue, Dec. 9, 5:35 PM
Mon, Nov. 10, 10:12 AM| Comment!
Thu, Sep. 18, 12:25 PM
- On Sept. 22, Singular Research will be hosting the Best of the Uncovereds conference in LA.
- Thirty "off-the-radar" companies will be presenting. As of today, the following small-cap companies are expected to present. In aggregate, the companies presenting are followed by more than 13,000 SA users. The number of SA alert subscribers for each symbol follows the symbol:
- AETI 127, AVNW 769, BONE 765, CLIR 805, LODE 620, OTCQB:CRWG 128, HILL 750, DXPE 514, ELLO 0, OTCQX:IGXT 1,249, NNVC 1,632, NEWT 191, TIS 1,084, QUAD 562, REED 748, REX 491, RMCF 459, SALM 230, SPA 305, TESS 282, TREC 211, HTM 1,252
Tue, Sep. 2, 6:55 PM
- Aviat (NASDAQ:AVNW) is guiding for FQ1 revenue of $84M-$89M, below a 2-analyst $93M consensus. Opex is expected to drop to $26M-$27M from FQ4's $28.8M.
- The RF transmission hardware vendor saw North American revenue fall 21% Y/Y in FQ4 to $37.7M, and international revenue fall 22% to $48.2M. However, book-to-bill was above 1.
- Gross margin fell to 25% from 31% a year ago. R&D spend dropped to 9.2% of revenue from 9.4%, while sales/admin spend rose to 24.3% from 20.6%.
- FQ4 results, PR
Tue, Sep. 2, 4:07 PM
Mon, Sep. 1, 5:35 PM
Wed, Aug. 20, 5:35 PM
Tue, Aug. 5, 9:12 AM
Fri, Jul. 25, 2:35 PM| Comment!
Wed, May. 7, 12:48 PM
Wed, May. 7, 12:30 PM
- 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.
Tue, May. 6, 4:42 PM
AVNW vs. ETF Alternatives
Aviat Networks, Inc. manufactures wireless networking products, solutions & services to mobile & fixed operators, private network operators, government agencies, transportation & utility companies, public safety agencies & broadcast network operators.
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