Ceragon Networks Reports Wider-than-expected Q2 Adj Loss

(RTTNews) - Ceragon Networks Ltd. (CRNT) reported net income for the second quarter of $8.0 million or $0.15 per share, compared to a net loss of $7.5 million or $0.20 per share for the year-ago quarter.

Excluding items, adjusted net loss for the second quarter was $5.0 million or $0.10 per share, compared to an adjusted net loss of $5.7 million or $0.15 per share in the prior year quarter.

Revenues for the second quarter of 2014 were $90.4 million, compared to $90.1 million in the second quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share on revenue of $89.33 million for the second quarter. Analyst' estimates typically exclude special items.

Separately, Ceragon said that it is offering to sell its ordinary shares in an underwritten public offering.

The company said it plans to use the net proceeds of the offering for general corporate purposes.