This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ceragon Networks Reports Second Quarter 2012 Financial Results

Stocks in this article: CRNT

                                           (Unaudited)

 
                                                              Six months ended June 30,
                                                           2012                     2011
                                                 GAAP
                                         (as reported)  Adjustments   Non-GAAP    Non-GAAP
 
    Revenues                                $ 236,833                $ 236,833   $ 210,662
    Cost of revenues                          161,925     4,517 (a)    157,408     142,961
    Gross profit                               74,908                   79,425      67,701
 
    Operating expenses:
    Research and development                   24,055     1,031 (b)     23,024      22,494
    Selling and marketing                      39,976     2,728 (c)     37,248      35,391
    General and administrative                 13,378       899 (d)     12,479      10,101
 
    Total operating expenses                 $ 77,409                 $ 72,751    $ 67,986
 
    Operating profit (loss)                    (2,501)                   6,674        (285)
    Financial expenses, net                    (1,460)                  (1,460)       (759)
 
    Income (loss) before taxes                 (3,961)                   5,214      (1,044)
 
    Taxes on income                               535                      535       1,412
 
    Net income (loss)                        $ (4,496)                 $ 4,679    $ (2,456)
 
    Basic net earnings (loss) per share       $ (0.12)                  $ 0.13     $ (0.07)
 
    Diluted net earnings (loss) per share     $ (0.12)                  $ 0.13     $ (0.07)
 
    Weighted average number of shares
    used in computing basic net earnings 
    (loss) per share                       36,354,389               36,354,389  35,794,446
 
    Weighted average number of shares
    used in computing diluted net
    earnings (loss) per share              36,354,389               37,287,665  35,794,446
 
    Total adjustments                                     9,175

    (a) Cost of revenues includes $0.6 million of amortization of intangible assets, 
        $2.0 million of inventory step-up, $0.1 million of stock based compensation 
        expenses, $0.2 million of integration plan related costs and $1.6 million of 
        changes in pre-acquisition indirect tax positions in the six months ended 
        June 30, 2012. 
    (b) Research and development expenses include $40 thousand of integration plan related 
        costs and $1.0 million of stock based compensation expenses in the six months 
        ended June 30, 2012. 
    (c) Selling and marketing expenses includes $1.2 million of amortization of intangible
        assets, $0.4 million of integration plan related costs and $1.1 million of stock 
        based compensation expenses in the six months ended June 30, 2012. 
    (d) General and administration expenses include, $0.3 million of integration plan 
        related costs and $0.6 million of stock based compensation expenses in the 
        six months ended June 30, 2012. 

                        RECONCILIATION BETWEEN REPORTED AND NON-GAAP

7 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!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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