Ceragon Networks Ltd. (NASDAQ:CRNT), a leader in 5G wireless transport solutions, has announced that it will release its financial results for the third quarter of 2024 on November 13, 2024, before the market opens. The announcement was made today, and the company will follow up with an investor conference call on the same day at 8:30 a.m. ET.
The Rosh Ha’Ayin-based company, specializing in wireless connectivity and AI-powered services, invites investors to register for the conference call, where the company's financial performance will be discussed. Details for registration will be provided upon signing up, and a replay of the call will be accessible on Ceragon's website within 24 hours for those who cannot attend live.
Ceragon's customer base spans service providers, utilities, public safety organizations, and government agencies, among others. The company's technology is essential for 5G and 4G broadband wireless connectivity and mission-critical services.
With a presence in over 130 countries, Ceragon's solutions are designed to lower total cost of ownership by optimizing the use of spectrum, power, and other resources, thereby simplifying network modernization.
This press release comes directly from a Form 6-K filing with the Securities and Exchange Commission. The information provided is intended to communicate financial updates and company developments to shareholders and the public.
Ceragon Networks continues to position itself as a significant player in the era of ubiquitous connectivity, focusing on delivering high-capacity, reliable wireless solutions for a variety of communication network use cases.
In other recent news, Ceragon Networks has reported a significant growth in its second quarter, with an 11.5% year-over-year increase in revenue to $96.1 million. This increase has been attributed to strategic diversification and the successful integration of the Siklu acquisition, which has notably strengthened its presence in the private networks segment.
The company's non-GAAP operating income also rose to $13.1 million from $7.4 million in the previous year's quarter, indicating a positive financial trajectory.
Ceragon Networks has also announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth “Big8” Conference, aiming to provide investors with insights into the company's business model and plans. CEO Doron Arazi will represent the company in one-on-one meetings, discussing strategies for growth and operational leverage.
For 2024, Ceragon anticipates its revenue to fall between $385 million and $405 million, marking a growth of 11% to 17% compared to 2023. The company continues to consider small mergers and acquisitions to bolster its organic strategy execution. The company's CEO, Doron Arazi, highlighted the potential for revenue growth from software and managed services, particularly with top-tier operators and smaller players.
InvestingPro Insights
As Ceragon Networks Ltd. (NASDAQ:CRNT) prepares to release its third-quarter 2024 financial results, investors may find additional context from recent financial data and expert insights. According to InvestingPro data, Ceragon's market capitalization stands at $225.84 million, with a price-to-earnings ratio of 21.52. The company has demonstrated strong revenue growth, with an 11.88% increase in the last twelve months as of Q2 2024, reaching $362.2 million.
InvestingPro Tips highlight that Ceragon's net income is expected to grow this year, which aligns with the company's upcoming earnings release. Moreover, the company is trading at a low P/E ratio relative to its near-term earnings growth, suggesting potential value for investors ahead of the financial results announcement.
Ceragon's financial health appears robust, with InvestingPro Tips indicating that liquid assets exceed short-term obligations and the company operates with a moderate level of debt. This financial stability could be crucial as Ceragon continues to expand its 5G wireless transport solutions globally.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Ceragon Networks, providing a deeper understanding of the company's financial position and market performance.
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