Aviat networks announces fiscal 2024 fourth quarter and twelve months financial results

Fourth quarter total revenue of $116.7 million; up 28.1% year-over-year fourth quarter adjusted ebitda of $11.9 million cash from operations of $8.3 million in fourth quarter, $30.5 million for full year austin, texas , oct. 4, 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 fourth quarter and twelve months ended june 28, 2024. fourth quarter highlights pasolink acquisition accretive to adjusted ebitda and non-gaap net income in the quarter achieved 4th consecutive fiscal year of growth in both revenue and adjusted ebitda secured statewide win of a new public safety customer, converting customer from legacy incumbent fourth quarter financial highlights total revenues: $116.7 million, up 28.1% from the same quarter last year gaap results: gross margin 35.3%; operating expenses $35.7 million; operating income $5.5 million; net income $1.5 million; net income per diluted share ("net income per share") $0.12 non-gaap results: adjusted ebitda $11.9 million; gross margin 35.9%; operating expenses $31.3 million; operating income $10.6 million; net income $9.2 million; net income per share $0.72 net cash and cash equivalents: $64.6 million; cash net of debt: $16.3 million full year financial highlights total revenues: $408.1 million, up 18.5% from last year gaap results: gross margin 35.5%; operating expenses $125.3 million; operating income $19.4 million; net income $10.8 million, net income per diluted share $0.86 non-gaap results: adjusted ebitda $48.1 million; gross margin 36.4%; operating expenses $105.4 million; operating income $43.1 million; net income per diluted share $3.15 fiscal 2024 fourth quarter and twelve months ended june 28, 2024 revenues the company reported total revenues of $116.7 million for its fiscal 2024 fourth quarter, compared to $91.1 million in the fiscal 2023 fourth quarter, an increase of $25.6 million or 28.1%.
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