RECONCILIATION BETWEEN REPORTED AND NON-GAAP
OPERATING PROFIT (LOSS)
(U.S. dollars in thousands)
Three months ended Year ended December 31, 2012 Reported GAAP net operating loss (7,058) (18,643) Stock based compensation expenses 1,219 5,464 Amortization of purchased intangible assets 880 3,536 Inventory step up 93 4,511 Restructuring and other charges related to reduction in workforce 6,712 6,712 Integration plan related costs - 955 Changes in pre-acquisition indirect tax positions (82) 2,277 Non-GAAP net operating profit 1,764 4,812Supplemental Information
The Company has adjusted its quarterly results for fiscal 2012 as furnished to the Securities and Exchange Commission under cover of - Forms 6K on October 29, 2012, August 6, 2012, and May 7, 2012. The impact of these adjustments on our financial results for the first three quarters of fiscal 2012 is as follows: CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) (Unaudited - GAAP) Three months Three months Three months Ended Ended Ended March 31, 2012 June 30, 2012 September 30, 2012 Revenues - as reported $ 117,783 $ 119,050 $ 118,046 Revenues - as adjusted 110,046 112,669 117,087 Gross Profit - as reported 36,939 37,969 36,570 Gross Profit - as adjusted 32,809 35,913 34,528 Basic and diluted net loss per share - as reported $ (0.10) $ (0.03) $ (0.07) Basic and diluted net loss per share - as adjusted $ (0.20) $ (0.08) $ (0.13) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) (Unaudited - non-GAAP) Three months Three months Three months Ended Ended Ended March 31, 2012 June 30, 2012 September 30, 2012 Revenues - as reported $ 117,783 $ 119,050 $ 118,046 Revenues - as adjusted 110,046 112,669 117,087 Gross Profit - as reported 39,231 40,194 40,681 Gross Profit - as adjusted 35,106 37,284 38,938 Basic and diluted net loss per share - as reported $ 0.05 $ 0.08 $ 0.09 Basic and diluted net loss per share - as adjusted $ (0.06) $ 0.01 $ 0.04Company and Investor Contact: Yoel Knoll Ceragon Networks Ltd. Tel. +1(201)-853-0228 firstname.lastname@example.org Media Contact: Abigail Levy-Gurwitz Ceragon Networks Ltd. Tel: +1-(201)-853-0271 email@example.com Media Contact: Karen Quatromoni Rainier Communications Tel. +1-508-475-0025 x150 firstname.lastname@example.org Contact: Yoel Knoll Vice President of Investor Relations Ceragon Networks Ltd. Cell (Int'l): +972(0)52-830-6419 Office (Int'l): +972 (0) 3-5431-132 Office (US): +1(201|) 406-1037 email@example.com SOURCE Ceragon Networks Ltd
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