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 Fourth Quarter And Year-End 2012 Financial Results

Stocks in this article: CRNT

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

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!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

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