NASDAQ$AVNW
Aviat Networks Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Aviat Networks' financial performance improved in Q3 2020, marked by revenue growth and increased gross margins.
Aviat Networks reported a 13.6% increase in revenue for Q3 2020, with North America revenue up by 30%. Gross margins increased by 570 basis points, and Adjusted EBITDA improved by $4 million compared to Q3 2019. The company reaffirmed its prior guidance and remains on track to deliver $11 - $12 million of Adjusted EBITDA in FY20.
- Total revenue increased by 13.6% year-over-year to $61.4 million.
- North America revenue grew by 30% to $37.3 million.
- GAAP gross margin increased to 35.8% from 30.1% in the prior year.
- GAAP operating income was $1.2 million, a $3.7 million improvement year-over-year.
Headline financials
Revenue & EPS history
Aviat · Revenue · Quarterly
$61.4M
Revenue by segment
Aviat · $91.2M total across 2 segments · Q4 2023
- Product sales$63.8M+23.4%70.0%
- Services$27.3M+6.4%30.0%
Forward guidance
Aviat Networks reaffirms prior guidance and remains on track to deliver $11 - $12 million of Adjusted EBITDA in FY20.
Tailwinds
- Remain on track to meet guidance
- Deliver between $11 and $12 million of Adjusted EBITDA this fiscal year
- Eyes set on both top- and bottom-line growth next fiscal year
- Changes underway now and more to come that should open up new revenue streams
- Drive profitability which in turn, should lead to increased shareholder value
Headwinds
- Impact of COVID-19 on Aviat’s business, operations and cash flows
- Continued price and margin erosion as a result of increased competition in the microwave transmission industry
- The impact of the volume, timing and customer, product and geographic mix of our product orders
- Aviat’s ability to meet financial covenant requirements which could impact, among other things, its liquidity
- The timing of Aviat’s receipt of payment for products or services from its customers
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+0.7%
Avg return
Earnings day
+3.5%
Avg return
5 days after
+5.7%
Avg return
30 days after
55%
35 / 64 earnings
Positive
+28.2%
Q2 2025
Best reaction
-31.9%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -28.5% | -30.0% | -14.3% | |
| Q2 2026 | +14.3% | +16.7% | +11.2% | |
| Q1 2026 | +0.4% | -3.2% | -13.2% | |
| Q4 2025 | +12.6% | +3.6% | -7.3% | |
| Q3 2025 | +5.0% | +4.0% | +12.2% | |
| Q2 2025 | +28.2% | +12.7% | -1.7% | |
| Q1 2025 | -31.9% | -28.5% | -15.1% | |
| Q3 2024 | -15.1% | -6.4% | -7.6% | |
| Q2 2024 | +19.9% | +9.3% | +19.4% | |
| Q1 2024 | +14.6% | +14.5% | +17.4% | |
| Q4 2023 | +19.0% | +21.1% | +16.6% | |
| Q3 2023 | -11.9% | -16.3% | -3.2% | |
| Q2 2023 | +21.5% | +13.0% | +14.6% | |
| Q1 2023 | -12.1% | -10.5% | +0.6% | |
| Q4 2022 | +1.3% | +1.0% | -7.7% | |
| Q3 2022 | -3.5% | -9.1% | -6.7% | |
| Q2 2022 | +1.2% | -2.6% | -9.1% | |
| Q1 2022 | +4.8% | +4.7% | -4.1% | |
| Q4 2021 | -14.4% | -9.4% | -13.9% | |
| Q3 2021 | -13.5% | -9.2% | +13.4% | |
| Q2 2021 | +4.8% | +25.1% | +22.7% | |
| Q1 2021 | +16.0% | +27.6% | +86.8% | |
| Q4 2020 | +3.3% | +10.3% | +3.4% | |
| Q3 2020 | +27.7% | +28.8% | +41.9% | |
| Q2 2020 | +1.6% | -1.3% | -12.9% | |
| Q1 2020 | +0.6% | +2.5% | +4.1% | |
| Q4 2019 | +6.1% | -0.8% | +9.7% | |
| Q3 2019 | -0.7% | -1.5% | -1.9% | |
| Q2 2019 | +4.3% | -1.6% | -8.0% | |
| Q1 2019 | -1.2% | -4.5% | -7.8% | |
| Q4 2018 | +14.1% | +11.9% | +2.2% | |
| Q3 2018 | +8.0% | +10.0% | -0.2% | |
| Q2 2018 | +2.5% | +5.1% | +12.7% | |
| Q1 2018 | +18.2% | +16.6% | +14.0% | |
| Q4 2017 | +9.4% | +7.7% | +5.2% | |
| Q3 2017 | -18.3% | -11.9% | -28.4% | |
| Q2 2017 | +14.2% | +18.5% | +23.6% | |
| Q1 2017 | +19.9% | +29.6% | +55.3% | |
| Q4 2016 | -8.7% | -10.2% | -0.3% | |
| Q3 2016 | -5.9% | — | — | |
| Q2 2016 | -14.1% | — | — | |
| Q1 2016 | -1.0% | — | — | |
| Q4 2015 | +2.9% | — | — | |
| Q3 2015 | -1.7% | — | — | |
| Q2 2015 | -9.9% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | -8.3% | — | — | |
| Q3 2014 | -29.2% | — | — | |
| Q2 2014 | +6.9% | — | — | |
| Q1 2014 | -4.6% | — | — | |
| Q4 2013 | -10.2% | — | — | |
| Q3 2013 | -19.7% | — | — | |
| Q2 2013 | +3.9% | — | — | |
| Q1 2013 | -3.0% | — | — | |
| Q4 2012 | +1.3% | — | — | |
| Q3 2012 | -1.4% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | -3.2% | — | — | |
| Q4 2011 | +6.4% | — | — | |
| Q3 2011 | -4.3% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q1 2010 | +3.6% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q3 2010 | +2.4% | — | — |
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