Ceragon Networks Ltd (NASDAQ: CRNT) rose Monday after the company reported upbeat Q3 results.
The company, based in Little Falls, New Jersey, reported revenues - $86.5 million, up 13.9% from the third quarter of 2017, and down 2.0% from the second quarter of 2018.
Gross margin was 35.0%, compared to 35.1% in the third quarter of 2017 and 32.5% in the second quarter of 2018.
Operating income registered $7.9 million, compared to $5.7 million in the third quarter of 2017, and $6.4 million in the second quarter of 2018.
Net income showed itself as $6.2 million, or $0.08 per diluted share for the third quarter of 2018. Net income for the third quarter of 2017 was $3.5 million, or $0.04 per diluted share. Net income for the second quarter of 2018 was $3.2 million or $0.04 per diluted share.
Non-GAAP gross margin was 35.0%, operating income was $8.4 million, and net income was $5.7 million, or $0.07 per diluted share.
Cash and cash equivalents were $41.3 million at September 30, 2018, compared to $29.4 million at June 30, 2018.
Said CEO Ira Palti, "We are achieving our goal of growing net income and delivering strong cash flow, even as we continue to invest aggressively in our next generation 5G solutions, and we remain on track to attain an increase in non-GAAP net income in 2018 compared to 2017."
Shares hiked 38 cents, or 11.1%, to $3.84
