Ceragon Networks Reports Solid Q2 Aided By Strong Bookings; Sees Strong FY21 Revenue

Ceragon Networks Ltd CRNT reported second-quarter FY21 revenue growth of 9.9% year-on-year to $68.6 million, beating the analyst consensus of $65.1 million.
The gross margin expanded 550 bps to 31.9%, primarily from a favorable customer mix.
Non-GAAP loss per share of $(0.01) beat the analyst consensus for a loss of $(0.04).
The company held $28.7 million in cash and equivalents. It used $2.96 million in cash from operating activities.
Ceragon had a strong quarter in terms of bookings, especially in North America, India, and Europe.
It accomplished sixteen 5G design wins to date. The company said it is participating in more OpenRan trials.
Outlook: Ceragon Networks expects FY21 revenue on the higher end of its prior view of $275 million - $295 million compared to the analyst consensus of $284.2 million.
Price action: CRNT shares traded higher by 3.00% at $4.12 on the last check Monday.

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