Aviat Networks rises after Q4 results top estimates

Aviat Networks

07/10/2024 13:24

** Aviat Networks  AVNW.O  shares up 8.2% premarket to
$20.96 after co's qtrly results surpass estimates
    ** 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
    ** Through Fri, AVNW shares down ~41% 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))