Earnings per share increased to $0.38 for fiscal 2010
Israeli wireless backhaul offerings provider Ceragon Networks has posted revenues of $67m for the fourth quarter of 2010, up 26% from $53.4m for the fourth quarter of 2009 and an increase of 8% sequentially.
Gross profit for the quarter increased to $24.8m from $18.4m in the same quarter of 2009.
For the fourth quarter ended December 31 2010, the company’s operating profit increased to $4m from $3.1m in the previous year quarter.
The net income for the quarter was $4m, or $0.10 per diluted share, compared to a net income of $2.1m or $0.06 per diluted share, for the same period in 2009.
For the fiscal year 2010, the company’s revenues, operating profit and net income were $250m, $14m and $14.1m, respectively.
Earnings per share for the fiscal year increased to $0.38 from $0.10 for the previous fiscal year.
Ceragon president and CEO Ira Palti said the company exceeded the high end of their revenue guidance and has a book-to-bill ratio significantly above one.
"We are excited to be entering 2011 with strong momentum in our base business and we continue to believe that after a period of integration during 2011, the Nera acquisition will enable us to realise a substantial increase in revenue and earning power in 2012," Palti said.