Ceragon Networks Ltd. (CRNT) reported third-quarter net income of $1.1 million or $0.03 per share compared to $3.5 million or $0.09 per share prior year.
On a non-GAAP basis, net income was $1.8 million or $0.05 per share compared to $4.2 million or $0.11 per share last year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit of $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues were $44.7 million, down 23% from $58.1 million last year. Analysts expected revenues of $44.30 million for the quarter.
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