Ceragon Networks Ltd. (NASDAQ: CRNT) below -1.68% and ended at $3.51. The stock’s market capitalization arrived at $274.271M and total traded volume was 293,298 shares. The stock has a 52-week highest price of $4.15 and its 52-week lowest price was called at $1.64. During last trade, its maximum trading price was registered $3.58 and it’s the minimum trading price was noted $3.50.
Ceragon Networks Ltd. (NASDAQ: CRNT) stated results for the first quarter ended March 31, 2018.
First Quarter 2018 Highlights
Revenues – $83.3M, up 9.5% from the first quarter of 2017, and down 3.9% from the fourth quarter of 2017.
Gross margin – 33.1%, contrast to 29.3% in the first quarter of 2017 and 33.6% in the fourth quarter of 2017.
Operating income – $5.4M, contrast to $2.0M in the first quarter of 2017 and $7.5M in the fourth quarter of 2017.
Net income (loss) – net income of $2.1M, or $0.03 per diluted share for the first quarter of 2018. Net loss for the first quarter of 2017 was $(0.1)M, or $(0.00) per diluted share. Net income for the fourth quarter of 2017 was $7.2M or $0.09 per diluted share.
Non-GAAP results – gross margin was 33.2%, operating income was $5.7M, and net income was $3.0M, or $0.04 per diluted share. For reconciliation of GAAP to non-GAAP results, see the attached tables.
Cash and cash equivalents – $26.0M at March 31, 2018, contrast to $25.9M at December 31, 2017.
Ira Palti, president and CEO of Ceragon said that they are starting 2018 with a strong quarter in all respects. they had strong bookings in Q1, with particular strength coming from India. Revenue increased 9.5% year over year, and the company have enough visibility to raise our quarterly run rate expectations to $80 to $85M during the balance of this year. Furthermore, he said the company won several important new projects in Q1 and our objective is to continue to gradually gain market share. Firm financial goal is to make 2018 the fourth consecutive year of increasing net income, despite facing some challenges with factors the company can’t control such as currency headwinds and shortages of passive components.
Ceragon Networks Ltd.’s (CRNT) EPS growth ratio for the past five years was 18.20% while Sales growth for the past five years was -5.80%. Return on equity (ROE) was noted as 13.60% while return on investment (ROI) was 16.00%. The stock’s institutional ownership stands at 22.10%.