This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ceragon Networks Reports Second Quarter 2012 Financial Results

                            CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

                                    (U.S. dollars, in thousands)

                                            (Unaudited)

                                                 Three months ended      Six months ended
                                                      June 30,               June 30,
                                                  2012        2011       2012        2011
    Cash flow from operating activities:
                                                                                                         
    Net loss                                   $ (1,022)  $ (17,370)  $ (4,496)  $ (38,746)
    Adjustments to reconcile net income
    to net cash used in operating activities:
 
    Depreciation and amortization                 3,648       2,951      7,419       6,152
    Stock-based compensation expense              1,257       1,437      2,842       2,856
    Decrease (increase) in trade and 
    other receivables, net                      (27,812)      6,640    (36,463)     29,134
    Decrease in inventory                         4,623      14,168     24,083      23,993
    Increase (decrease) in trade payables 
    and accrued liabilities                       8,734      (7,743)    10,721     (24,680)
    Decrease in deferred revenues                (3,219)    (12,755)   (12,391)    (12,765)
    Decrease (increase) in deferred tax 
    asset, net                                      114           1       (263)         32
    Other adjustments                              (325)      1,661       (429)      1,650
                                               
    Net cash used in operating activities     $ (14,002)  $ (11,010)  $ (8,977)  $ (12,374)
 
    Cash flow from investing activities:
    Purchase of property and equipment ,net      (3,065)     (3,240)    (6,368)     (6,029)
    Payment for business acquisition(*)               -           -          -     (42,405)
    Investment in short and long-term
    bank deposit                                      -      (7,589)    (1,266)     (9,843)
    Proceeds from short and long-term 
    bank deposits                                 3,186      10,273      5,436      24,069
    Investment in held-to-maturity 
    marketable securities                           (64)          -        (64)          -
    Proceeds from maturities of held-to-maturity 
    marketable securities, net                        -          23      9,717       4,258
    Net cash provided by (used in) 
    investing activities                           $ 57      $ (533)   $ 7,455   $ (29,950)
 
    Cash flow from financing activities:
    Proceeds from exercise of options               251         284        464       3,580
    Proceeds from bank loans                     14,600           -     14,600      35,000
    Repayment of bank loan                       (2,058)          -     (4,116)          -
    Net cash provided by financing activities  $ 12,793       $ 284   $ 10,948    $ 38,580
 
    Translation adjustments on cash 
    and cash equivalents                         $ (322)     $ (789)    $ (473)     $ (435)
                                                                                                          
    Increase (decrease) in cash 
    and cash equivalents                       $ (1,474)  $ (12,048)   $ 8,953    $ (4,179)
    Cash and cash equivalents 
    at the beginning of the period               39,418      45,594     28,991      37,725
    Cash and cash equivalents 
    at the end of the period                   $ 37,944    $ 33,546   $ 37,944    $ 33,546

    (*) Excluding cash and cash equivalents

                            RECONCILIATION OF NON-GAAP FINANCIAL RESULTS

5 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7870 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs