PARAMUS, New Jersey, April 8, 2013 /PRNewswire/ --
Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 wireless backhaul specialist, today announced preliminary financial results for the first quarter ending March 31, 2013. Ceragon expects revenues for the first quarter of 2013 to be in the range of $89 million to $91 million, below the company's guidance of $95 million to $105 million. Based on the anticipated level of revenues during the first quarter, GAAP EPS is expected to be in the range of $(0.36) to $(0.39). EPS on a non-GAAP basis is expected to be in the range of $(0.15) to $(0.18).
All of the data is subject to completion of the quarterly closing process. Final results, including GAAP and non- GAAP revenue and earnings per share and a reconciliation of GAAP to non-GAAP financial measures, will be released on May 6, 2013.
"Our revenues will not reach the low end of our guidance for the first quarter of 2013 because it is taking longer than we expected to close certain deals," said Ira Palti, President and CEO of Ceragon: "We experienced a level of bookings in Q1 lower than we would have expected based on seasonal weakness, reflecting operators' cautious approach, despite the need for additional capacity."We expect the re-evaluation of some aspects of customers' business models, as well as continued intense budget scrutiny, to cause longer sales cycles to persist, even though Q2 bookings are likely to show some improvement for seasonal reasons. We will provide more color during our regularly scheduled quarterly call on May 6 th." A conference call discussing Ceragon's preliminary results for the first quarter of 2013, will take place today beginning at 09:00 a.m. EST. Investors are invited to join the Company's teleconference by calling USA: (800) 230-1096 or International: +1 (612) 234-9959, from 08:50 a.m. EST. The call-in lines will be available on a first-come, first-serve basis. Investors can also listen to the call live via the Internet by accessing Ceragon Networks' website at the investors' page: http://www.ceragon.com/ir_events.asp?lang=0 selecting the webcast link, and following the registration instructions. If you are unable to join us live, the replay numbers are: USA: (800) 475-6701 or International: +1 (320) 365-3844 Access Code: 288563. A replay of both the call and the webcast will be available through May 8, 2013. About Ceragon Networks Ltd.