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 Fourth Quarter And Year-End 2012 Financial Results

RECONCILIATION BETWEEN REPORTED AND NON-GAAP

OPERATING PROFIT (LOSS)

(U.S. dollars in thousands)

(Unaudited)
                                             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                  4,812

Supplemental 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                $ 0.04

Company and Investor Contact: Yoel Knoll Ceragon Networks Ltd. Tel. +1(201)-853-0228 yoelk@ceragon.com Media Contact: Abigail Levy-Gurwitz Ceragon Networks Ltd. Tel: +1-(201)-853-0271 abigaill@ceragon.com Media Contact: Karen Quatromoni Rainier Communications Tel. +1-508-475-0025 x150 kquatromoni@rainierco.com 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 yoell@ceragon.com

SOURCE Ceragon Networks Ltd

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
8 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