Leading microwave networking expert Aviat Networks, Inc. (AVNW) lowered its preliminary first quarter fiscal 2014 revenue guidance on Oct 3. The company’s share prices, which have been falling consistently since September, further dipped about 6% on Oct 4 following this news.
The company’s revenue expectations were trimmed from the range of $105 million - $112 million to $95 million - $100 million. Headwinds from rebidding of a contract (which was expected to generate revenues in the quarter) along with the company’s inability to complete some orders in the quarter were the challenges that resulted in lowered guidance.
Aviat updated this revenue guidance after an initial financial evaluation was conducted preceding its earnings release. The company’s other financial details will be revealed with its first quarter 2014 earnings that is scheduled to release on Oct 30, 2013.
Aviat primarily designs, manufactures and markets a wide range of wireless networking products, solutions and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies and broadcast network operators around the world.
Aviat currently has a Zacks Rank #5 (Strong Sell). Some other better placed stocks from the same industry and worth mentioning at the moment are ShoreTel, Inc. (SHOR - Snapshot Report), Ubiquiti Networks, Inc. (UBNT - Analyst Report) and DragonWave Inc. (DRWI - Snapshot Report). ShoreTel and Ubiquiti currently hold a Zacks Rank #1 (Strong Buy), whereas DragonWave carries a Zacks Rank #2 (Buy).