Ceragon Networks Ltd.'s (CRNT) fourth-quarter net income declined to $2.13 million or $0.06 per share from $2.74 million or $0.07 per share last year.
On a non-GAAP basis, net income, excluding $1.3 million of equity-based compensation expenses, for the recent quarter was $3.44 million compared with $3.33 million in the previous year. However, fourth-quarter non-GAAP earnings per share remained unchanged at $0.09.
On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.07 for the quarter. Analysts' estimate typically excludes one-time items.
Revenues for the fourth quarter of 2009 were $53.36 million, down 6% from $56.78 million for the fourth quarter of 2008. Eleven analysts estimated revenues of $49.95 million for the quarter.
Ira Palti, president and chief executive of Ceragon added, "With continued strong focus on expense control, we expect profits to grow more rapidly than revenues, with a target of 30-35% revenue growth for 2010 over 2009."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.