NASDAQ$AVNW

Aviat Networks Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Aviat reported an increase in quarterly revenues and Adjusted EBITDA, driven by execution on key long-term strategic objectives.

Aviat Networks reported a successful Q3 2021 with total revenues of $66.4 million, an 8.2% increase year-over-year. The company saw significant improvements in Adjusted EBITDA and net income, driven by growth in North America and international markets.

  • Total revenues increased by 8.2% year-over-year to $66.4 million.
  • Adjusted EBITDA increased by $3.8 million year-over-year to $7.3 million.
  • GAAP net income was $94.7 million, or $8.00 per diluted share, driven by the release of a U.S. valuation allowance.
  • Aviat was selected by Dish Networks as a key microwave transport vendor and increased its share of demand in Rural Broadband.

Headline financials

Total Revenue

$66.4M

Previous: $61.4M+8.2%
EPS (adj)

$0.49

Previous: $0.20+145.0%
GAAP Gross Margin

38.5%

Previous: 35.8%+7.5%
Adjusted EBITDA

$7.3M

Previous: $3.5M+108.6%
Capital Expenditures

-$2.4M

Previous: -$3.95M+39.2%
Free Cash Flow

$92.3M

Previous: -$3.21M+2972.8%
Net Income

$94.7M

Previous: $731K+12859.1%
Operating Income

$4.04M

Previous: $1.24M+226.5%
Gross Profit

$25.6M

Previous: $22M+16.5%
Cash & Equivalents

$45.8M

Previous: $39.2M+16.8%
Total Assets

$291M

Previous: $180M+61.6%
Stock-Based Comp

$765K

Previous: $507K+50.9%

Revenue & EPS history

Aviat · Revenue · Quarterly

$66.4M

Q3 2021+8.2%vs Q3 2020
Beat estimate in 10 of 10 quarters(100%)
ActualEstimate

Revenue by segment

Aviat · $66.4M total across 2 segments · Q3 2021

  • Product sales
    $45.2M
  • Services
    $21.2M

Forward guidance

Aviat Networks did not provide specific forward guidance in this earnings report.

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 2021

Historical avgQ3 2021

+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

Earnings price reactions
QuarterReport dateReaction (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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