The region's biggest cellular operator again chose Ceragon's solutions as part of its 4G deployment.
A $13 million deal today gave the Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) share a shot in the arm. The communications equipment company announced that a major Latin American cellular operator had selected its solutions for its nationwide 4G communications network. The customer, whose name was not reported, will use Ceragon's IP-20 platform. "We pay close attention to our customers' needs, so that we can provide a platform for products that fulfills all the customer's current and future needs, while leveraging his previous investments in communications infrastructure," said Ceragon president and CEO Ira Palti. "Expanding our business with this long-standing customer shows our ability to generate sustained value for the customer with the development of his network."
Ceragon's market cap is $84 million. The company provides high-capacity wireless solutions for communication between base stations and the main switch in the network. Ceragon posted a $76.5 million net loss ($25.2 million non-GAAP net loss) in 2014, and carried out another series of layoffs as part of its restructuring plan. Ceragon's first quarter net loss was $7 million ($1.3 million non-GAAP). The company said that its target is a non-GAAP net profit in the second quarter of the year, which ends tomorrow.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2015
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Ira Palti