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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.