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Aviat Networks, Inc. (AVNW) SEC Filing 10-K Annual Report for the fiscal year ending Friday, July 1, 2022

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Aviat Networks, Inc.

CIK: 1377789 Ticker: AVNW

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www.aviatnetworks.com
Aviat Networks Announces Fiscal 2022 Fourth Quarter and Twelve Months Financial Results
Total Q4 Revenue of $77.4 million; Up 8.0% Year-over-Year
Q4 GAAP Operating Income of $5.2 million; Up 40.4% Year-over-Year
Q4 Adjusted EBITDA of $9.1 million; Up 31.1% compared to Prior Year


AUSTIN, TX, August 23, 2022
-- Aviat Networks, Inc. (NASDAQ: AVNW), (“Aviat Networks,” “Aviat,” or the “Company”), the leading expert in wireless transport solutions, today reported financial results for its fiscal 2022 fourth quarter and twelve months ended July 1, 2022. These results do not include the financial results of Redline Communications Group Inc., whose acquisition by Aviat was completed on July 5, 2022, in Aviat’s fiscal 2023 first quarter.
Fourth Quarter Highlights
Company executed on key long-term strategic objectives resulting in continued year-over-year increase in quarterly revenues and Adjusted EBITDA
Highest bookings quarter in seven years, and the highest in North America in over a decade
Highest bookings quarter for multi-band to date, with 60% coming from the EMEA region
Highest bookings quarter for management software since the Company’s inception, including the first SaaS-based Health Assurance Software sale with a large U.S. state government
Announced collaboration with MaxLinear on next generation System on Chip:
the most advanced technology Modem for wireless transport in development
Fourth Quarter Financial Highlights
Total Revenues: $77.4 million, +8.0% from the same quarter last year
North America: $48.8 million, + 5.1% from the same quarter last year
International: $28.6 million, +13.3% from the same quarter last year
GAAP Results: Gross Margin 35.5%; Operating Expenses $22.2 million; Operating Income $5.2 million; Net Income $4.5 million; Net Income per diluted share (‘Net Income per share”) $0.39
Non-GAAP Results: Adjusted EBITDA $9.1 million; Gross Margin 35.7%; Operating Expenses $19.5 million; Operating Income $8.1 million; Net Income $7.8 million; Net Income per share $0.67
Net Cash and Marketable securities: $47.8 million; no loans outstanding at quarter-end
Buy Back: Repurchased $0.75 million of stock in the quarter


The following information was filed by Aviat Networks, Inc. (AVNW) on Tuesday, August 23, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Aviat Networks, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Balance Sheet Components
Balance Sheet Components (Accrued Expenses) (Details)
Balance Sheet Components (Accrued Warranties) (Details)
Balance Sheet Components (Advance Payments And Unearned Revenue) (Details)
Balance Sheet Components (Assets Held For Sale) (Details)
Balance Sheet Components (Cash, Cash Equivalents And Restricted Cash) (Details)
Balance Sheet Components (Inventories) (Details)
Balance Sheet Components (Inventory Adjustments) (Details)
Balance Sheet Components (Property, Plant And Equipment) (Details)
Balance Sheet Components (Receivables) (Details)
Balance Sheet Components (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Outstanding Purchase Obligations And Other Commitments (Details)
Credit Facility And Debt
Credit Facility And Debt (Details)
Fair Value Measurements Of Assets And Liabilities
Fair Value Measurements Of Assets And Liabilities (Details)
Fair Value Measurements Of Assets And Liabilities (Tables)
Income Taxes
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Components Of Income Tax Expense) (Details)
Income Taxes (Effective Income Rate Reconciliation) (Details)
Income Taxes (Income Before Provision For Income Taxes) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Tables)
Income Taxes (Unrecognized Tax Benefit Activity) (Details)
Leases
Leases (Narrative) (Details)
Leases (Operating Leases, Future Minimum Payments Due) (Details)
Leases (Other Information Related To Operating Leases) (Details)
Leases (Schedule Of Lease Costs) (Details)
Leases (Tables)
Net Income Per Share Of Common Stock
Net Income Per Share Of Common Stock (Schedule Of Basic And Diluted Net (Loss) Income Per Share) (Details)
Net Income Per Share Of Common Stock (Schedule Of Common Stock Excluded Because They Were Antidilutive) (Details)
Net Income Per Share Of Common Stock (Tables)
Restructuring Activities
Restructuring Activities (Narrative) (Details)
Restructuring Activities (Restructuring Related Activities) (Details)
Restructuring Activities (Tables)
Revenue Recognition
Revenue Recognition (Contracted Balances) (Details)
Revenue Recognition (Narrative) (Details)
Revenue Recognition (Remaining Performance Obligations) (Details)
Revenue Recognition (Tables)
Schedule??Ii????? Valuation And Qualifying Accounts
Schedule??Ii????? Valuation And Qualifying Accounts (Details)
Segment And Geographic Information
Segment And Geographic Information (Long-Lived Assets By Country) (Details)
Segment And Geographic Information (Narrative) (Details)
Segment And Geographic Information (Revenue By Country) (Details)
Segment And Geographic Information (Revenue By Region) (Details)
Segment And Geographic Information (Tables)
Stockholders??? Equity
Stockholders??? Equity (Additional Option Information) (Details)
Stockholders??? Equity (Market Based Awards) (Details)
Stockholders??? Equity (Narrative) (Details)
Stockholders??? Equity (Options By Exercise Price Range) (Details)
Stockholders??? Equity (Performance Share Activity) (Details)
Stockholders??? Equity (Repurchase Of Common Stock) (Details)
Stockholders??? Equity (Restricted Stock Activity) (Details)
Stockholders??? Equity (Stock Based Compensation Expense) (Details)
Stockholders??? Equity (Stock Option Activity) (Details)
Stockholders??? Equity (Tables)
Stockholders??? Equity (Unamortized Expenses) (Details)
Stockholders??? Equity (Weighted Average Assumptions) (Details)
Subsequent Event
Subsequent Event (Details)
The Company And Summary Of Significant Accounting Policies
The Company And Summary Of Significant Accounting Policies (Narrative) (Details)
The Company And Summary Of Significant Accounting Policies (Policies)
The Company And Summary Of Significant Accounting Policies (Property, Plant And Equipment) (Details)
The Company And Summary Of Significant Accounting Policies (Tables)
Ticker: AVNW
CIK: 1377789
Form Type: 10-K Annual Report
Accession Number: 0001377789-22-000137
Submitted to the SEC: Wed Sep 14 2022 3:37:47 PM EST
Accepted by the SEC: Wed Sep 14 2022
Period: Friday, July 1, 2022
Industry: Radio And Tv Broadcasting And Communications Equipment

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