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
TheStreet Open House

Ceragon Networks Reports Third Quarter 2012 Financial Results

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

(Unaudited)

 
                                           Three months ended September 30,
 
                                               2012                              2011
                       GAAP (as reported)       Adjustments   Non-GAAP         Non-GAAP

    Revenues                   $ 118,046                     $ 118,046        $ 116,120
    Cost of revenues              81,476       4,111 (a)        77,365           78,667
 
    Gross profit                  36,570                        40,681           37,453
 
    Operating expenses:
    Research and development      11,425         404 (b)        11,021           12,023
    Selling and marketing         19,193       1,071 (c)        18,122           18,359
    General and administrative     7,216         423 (d)         6,793            5,511
 
    Total operating expenses    $ 37,834                      $ 35,936         $ 35,893
 
    Operating profit (loss)       (1,264)                        4,745            1,560
    Financial expenses, net       (1,149)                       (1,149)            (241)
 
    Income (loss) before taxes    (2,413)                        3,596            1,319
 
    Taxes on income                  261                           261              724
 
    Net income (loss)           $ (2,674)                      $ 3,335            $ 595
 
    Basic net earnings 
    (loss) per share             $ (0.07)                       $ 0.09           $ 0.02
 
    Diluted net earnings 
    (loss) per share             $ (0.07)                       $ 0.09           $ 0.02
 
    Weighted average number 
    of shares used in 
    computing basic net 
    earnings (loss) per 
    share                     36,495,563                    36,495,563       36,065,381
 
    Weighted average number 
    of shares used in 
    computing diluted net 
    earnings (loss) per 
    share                     36,495,563                    37,091,849       37,527,749
 
    Total adjustments                         6,009
 
  1. Cost of revenues includes $0.3 million of amortization of intangible assets, $2.9 million of inventory step-up, $0.1 million of stock based compensation expenses and $0.8 million of changes in pre-acquisition indirect tax positions in the three months ended September 30, 2012.
  2. Research and development expenses include $0.4 million of stock based compensation expenses in the three months ended September 30, 2012.
  3. Selling and marketing expenses include $0.6 million of amortization of intangible assets and $0.5 million of stock based compensation expenses in the three months ended September 30, 2012.
  4. General and administrative expenses include $0.4 million of stock based compensation expenses in the three months ended September 30, 2012.

RECONCILIATION OF NON-GAAP FINANCIAL RESULTS

5 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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