The communication equipment company reported a loss of 5 cents a share for the quarter, missing the Capital IQ Consensus Estimate of a loss of 3 cents a share by 2 cents. Revenue grew 7.5% year over year to $99 million, beating analysts' estimates of $94.97 million for the quarter.
"The pickup in revenues and the continued acceleration in bookings during the third quarter were mainly a result of extremely strong demand from India," president and CEO Ira Palti said in a statement. "We approached breakeven on an operating basis and reported a small non-GAAP operating profit, despite a less favorable geographic revenue mix putting pressure on our gross margin."
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TheStreet Ratings team rates CERAGON NETWORKS LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate CERAGON NETWORKS LTD (CRNT) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: CRNT Ratings Report