- Aviat Networks (NASDAQ:AVNW) grew revenues slightly and saw near-flat operating income in its Q2 earnings report.
- Net income was more than halved, to $2.31M from $5.35M on a GAAP basis, due to a year-ago benefit from income tax reform. Operating income was $2.883M, down from $2.894M.
- The company says bookings were "exceptionally strong" and book-to-bill ratio was above 1 amid building backlog in the first half of the year.
- Revenue grew 5.5% driven by a 12.3% increase in international revenue and 0.9% gains in North America.
- Revenue breakout: Product sales, $41.96M (up 11.2%); Services, $23.1M (down 3.6%).
- For the second half, it's expecting revenue of $125M-$130M -- which would come out to annualized fiscal 2019 growth of about 3.1%-5.2%.
- It sees second-half non-GAAP operating income of $7.5M-$8M and EBITDA of $12.5M-$13M, a bit above company guidance.
- Previously: Aviat Networks reports Q2 results (Feb. 11 2019)
- Press release