Ceragon Networks Ltd. (NASDAQ: CRNT) reported results for the third quarter which ended September 30, 2013, showing revenues reaching only USD92.1m, down 21% from USD117.1m for the third quarter of 2012, but up 2% from USD90.1m in the second quarter of 2013.
Net loss (GAAP) for the quarter was USD10.4m or USD0.28 per basic share and diluted share, compared to net loss of USD4.7m in the third quarter of 2012, or USD0.13 per basic share and diluted share.
On a non-GAAP basis, net loss for the third quarter, excluding (a) USD0.7m of equity-based compensation expenses, (b) USD0.6m amortization of intangible assets, (c) USD0.6m of changes in pre-acquisition indirect tax positions, and (d) USD4.0m of non-recurring adjustment of valuation allowance on tax assets, was USD4.5m, or USD0.12 per basic share and diluted share. Non-GAAP net income for the third quarter of 2012 was USD1.6m, or USD0.04 per basic and diluted share (please refer to the accompanying financial tables for reconciliation of GAAP financial information to non-GAAP).
Ceragon Networks is a high-capacity wireless hauling specialist. Ceragon delivers turnkey solutions that support service provider profitability at every stage of the network lifecycle enabling faster time to revenue, cost-effective operation and simple migration to all-IP networks. The company´s website is at www.ceragon.com.