Aviat networks announces fiscal 2024 third quarter and nine month financial results

Total revenue of $111.6 million; up 33.7% year-over-year adjusted ebitda of $12.0 million; up 11.1% year-over-year cash from operations of $15.3 million in current quarter, $22.2 million year-to-date austin, texas , may 1, 2024 /prnewswire/ -- aviat networks, inc. ("aviat networks," "aviat," or the "company"), (nasdaq: avnw), the leading expert in wireless transport and access solutions, today reported financial results for its fiscal 2024 third quarter ended march 29, 2024. third quarter highlights grew core aviat revenue by 7%, driven by strong international sales and private network growth achieved 15th consecutive quarter of growth in both revenue and adjusted ebitda on a trailing twelve-month basis generated positive free cash flow in the quarter from both the core aviat and pasolink businesses secured first india microwave backhaul radio orders adding an addressable segment of $200 million third quarter financial highlights total revenues: $111.6 million, up 33.7% from the same quarter last year gaap results: gross margin 32.7%; operating expenses $31.5 million; operating income $5.0 million; net income $3.4 million; net income per diluted share ("net income per share") $0.27 non-gaap results: adjusted ebitda $12.0 million; gross margin 35.2%; operating expenses $28.5 million; operating income $10.8 million; net income $9.4 million; net income per share $0.73 net cash and marketable securities: $59.2 million; cash net of debt: $10.2 million "this quarter aviat achieved continued organic revenue and profitability growth," said pete smith, president and chief executive officer of aviat networks.
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