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 Third Quarter 2012 Financial Results

This press release provides financial measures that exclude certain items and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these Non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors

*   *   *

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except share and per share data)

(Unaudited)
                             Three months ended          Nine months ended
 
                                September 30               September 30,
                                2012           2011        2012           2011
 
    Revenues               $ 118,046      $ 116,120   $ 354,879      $ 326,782
    Cost of revenues          81,476         81,651     243,401        239,095
 
    Gross profit              36,570         34,469     111,478         87,687
 
    Operating expenses:
    Research and
    development               11,425         12,805      35,480         37,922
    Selling and
    marketing                 19,193         20,988      59,169         61,176
    General and
    administrative             7,216          6,452      20,594         18,187
    Restructuring costs            -              -           -          7,834
    Acquisition related                                                  
    costs                          -              -           -          4,919
 
    Total operating
    expenses               $ 37,834       $ 40,245    $ 115,243      $ 130,038
 
    Operating loss           (1,264)        (5,776)     (3,765)       (42,351)
 
    Financial expenses,
    net                      (1,149)          (241)     (2,609)        (1,000)
 
    Loss before taxes        (2,413)        (6,017)     (6,374)       (43,351)
 
    Taxes on income              261            724         796          2,136
 
    Net loss              $ (2,674)      $ (6,741)   $ ( 7,170)     $ (45,487)
 
    Basic net loss per
    share                   $ (0.07)       $ (0.19)    $ (0.20)       $ (1.27)
 
    Diluted net loss per
    share                   $ (0.07)       $ (0.19)    $ (0.20)       $ (1.27)
 
    Weighted average
    number of shares
    used in computing
    basic net loss per
    share                 36,495,563     36,065,381  36,397,410     35,885,904
 
    Weighted average
    number of shares
    used in computing
    diluted net loss per
    share                 36,495,563     36,065,381  36,397,410     35,885,904

CONDENSED CONSOLIDATED BALANCE SHEETS

3 of 7

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

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs