This Day On The Street
Continue to site
ADVERTISEMENT
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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs