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Aviat Networks Inc. (AVNW-2.49%) has submitted its 10-Q filing for the quarterly period ended December 27, 2024.
The filing reports total revenues of $118.2 million for the quarter, an increase from $93.7 million in the same quarter of the previous year. This growth was driven by increased product sales and service revenues.
Product sales revenue increased to $82.3 million from $65 million in the prior year, while service revenues rose to $35.9 million from $28.7 million.
The company's gross margin for the quarter was $40.9 million, up from $36.3 million in the same period last year. However, the gross margin percentage decreased to 34.6% from 38.8% due to changes in customer and regional sales mix.
Research and development expenses rose to $10.2 million from $8.4 million, reflecting increased development activities related to recent acquisitions.
Selling and administrative expenses decreased slightly to $21.3 million from $22.5 million, attributed to cost reduction efforts.
Aviat Networks reported a net income of $4.5 million for the quarter, up from $1.8 million in the previous year.
The company completed the acquisition of 4RF Limited and NEC's wireless transport business, enhancing its product portfolio and market reach.
Aviat Networks' cash and cash equivalents totaled $52.6 million as of December 27, 2024, with $66.7 million available under its credit facility.
The report also details the company's restructuring efforts, which incurred $1.4 million in charges during the quarter, aimed at optimizing workforce and aligning cost structures.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aviat Networks Inc. quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.