FX.co ★ Aviat Networks Inc. Q4 Profit Decreases, But Beats Estimates

Aviat Networks Inc. (AVNW) has announced its fourth-quarter earnings, which have declined compared to the same period in the previous year but nonetheless exceeded Wall Street forecasts.

The company reported a net income of $1.5 million, or $0.12 per share, a decrease from the $3.8 million, or $0.32 per share, reported in the fourth quarter of last year. On an adjusted basis, which excludes certain items, Aviat Networks achieved earnings of $9.2 million, or $0.72 per share, for the quarter.

This performance surpassed the consensus estimate of $0.69 per share projected by analysts, as aggregated by Thomson Reuters. Typically, analysts' projections exclude special items.

The company's quarterly revenue experienced a significant increase, rising 28.1% to $116.7 million from the previous year's $91.1 million.

Key financial highlights for Aviat Networks Inc. under GAAP reporting for the fourth quarter are as follows:

• earnings of $1.5 million compared to $3.8 million in the previous year;
• earnings per share of $0.12 versus $0.32 a year ago;