Aviat Networks rallies 33% after Q4 results beat

Aviat Networks

07/10/2024 14:55

(Updates stock to market open)
    ** Aviat Networks  AVNW.O  shares jump as much as 33% to
$25.74, over 1-mth high, early Mon after co's qtrly results
surpass estimates
    ** AVNW last up 28.5% at $24.89 and on track for biggest
one-day pct gain since May 13, 2020
    ** Austin, Texas-based wireless transport provider late Fri
said Q4 rev rose 28% y/y to $116.7 mln, topping LSEG estimate of
$112.9 mln
    ** Adj EPS in qtr of 72 cents beat analysts' expectations by
3 cents
    ** Co also said will continue to implement measures designed
to improve internal control weaknesses identified recently
    ** Co, which delayed its 10-K filing last month, said
expects fiscal 2025 rev of $450-$490 mln, up from $408.1 mln
reported in 2024
    ** All 6 analysts covering AVNW rate stock "buy" with median
PT of $50.50 - LSEG
    ** Even with move on the session, AVNW down 24% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))