Ceragon Networks Ltd. (NASDAQ:CRNT) spotted trading -41.99% off 52-week high price. On the other end, the stock has been noted 123.23% away from the low price over the last 52-weeks. The stock changed 0.45% to recent value of $2.21. The stock transacted 1983954 shares during most recent day however it has an average volume of 685.02K shares. The company has 85.27M of outstanding shares and 61.24M shares were floated in the market.
On May 04, 2020, Ceragon Networks Ltd. (NASDAQ:CRNT) revealed results for the first quarter ended March 31, 2020.
First Quarter 2020 Highlights
- Weak results reflecting COVID-19 challenges compounded by normal Q1 seasonality
- Strong bookings (book-to-bill ratio well above 1) as service providers addressed increased demand for broadband connectivity
- Return of India as major source of business; highest Q1 bookings in Europe in 6 years
- Management believes trends created by the COVID-19 crisis will accelerate the global 5G network rollout, driving long-term growth momentum for Ceragon. However, management remains cautious because of the risk of a potential worldwide recession.
Primary Financial Results:
Revenues: $55.9 million compared with $69.2 million for Q1’19 and $71.3 million for Q4’19.
Gross margin: 25.1% compared to 35.6% for Q1’19 and 31.7% for Q4’19.
Operating income (loss): $(6.0) million compared with $3.2 million for Q1’19 and $(2.2) million for Q4’19.
Net income (loss): $(6.9) million, $(0.09) per diluted share compared with $0.8 million, $0.01 per diluted share for Q1’19 and $(4.1) million, or $(0.05) per diluted share for Q4’19.
Non-GAAP results: gross margin 25.1%, operating loss $(5.6) million, and net loss $(6.7) million, or $(0.08) per diluted share. For reconciliation of GAAP to non-GAAP results, see the attached tables.
Cash and cash equivalents: $44.1 million at March 31, 2020, compared to $23.9 million at December 31, 2019.
Its earnings per share (EPS) expected to touch remained -110.30% for this year while earning per share for the next 5-years is expected to reach at 15.00%. CRNT has a gross margin of 33.90% and an operating margin of 2.60% while its profit margin remained -0.80% for the last 12 months.
According to the most recent quarter its current ratio was 2.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 9.98% from the mean of 20 days, 31.43% from mean of 50 days SMA and performed 1.38% from mean of 200 days price. Company’s performance for the week was -8.68%, 81.15% for month and YTD performance remained 5.24%.