Aviat networks announces fiscal 2024 second quarter and six month financial results, increases full year guidance

Total revenue of $95.0 million; up 4.8% year-over-year gross  margin of 38.8%; up 330 basis points year-over-year operating income of $5.0 million; non-gaap operating income of $12.6 million adjusted ebitda of $13.7 million; up 6.5% year-over-year austin, texas , feb. 6, 2024 /prnewswire/ -- aviat networks, inc. ("aviat networks," "aviat," or the "company"), (nasdaq: avnw), the leading expert in wireless transport solutions, today reported financial results for its fiscal 2024 second quarter ended december 29, 2023. second quarter highlights continued year-over-year growth in quarterly revenues and gross margins achieved 14th consecutive quarter of growth in both revenue and adjusted ebitda on a trailing twelve-month basis closed acquisition of nec corporation's wireless transport business and progressed integration delivered record first half revenue in the aviat store shipped first 11 ghz ultra-high power radio to capture upgrade opportunity driven by 6 ghz interference risk second quarter financial highlights total revenues: $95.0 million, up 4.8% from the same quarter last year gaap results: gross margin 38.8%; operating expenses $31.8 million; operating income $5.0 million; net income $2.9 million; net income per diluted share ("net income per share") $0.24 non-gaap results: adjusted ebitda $13.7 million; gross margin 38.8%; operating expenses $24.3 million; operating income $12.6 million; net income $11.9 million; net income per share $0.97 cash and cash equivalents: $45.9 million; debt net of cash: $3.6 million "this quarter was significant for aviat networks in many ways.
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