Aviat Networks Inc. (AVNW) Financial Statements (2024 and earlier)

Company Profile

Business Address 200 PARKER DRIVE
AUSTIN, TX 78728
State of Incorp. DE
Fiscal Year End June 30
Industry (SIC) 3663 - Radio and Television Broadcasting and Communications Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
MRQ
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments45,91422,24447,77047,94241,61831,946
Cash and cash equivalents45,91422,24236,87747,94241,61831,946
Short-term investments 210,893   
Receivables227,095160,241119,02585,65672,74679,717
Inventory, net of allowances, customer advances and progress billings      8,573
Inventory      8,573
Capitalized contract cost3,6203,4922,3411,7201,157 
Disposal group, including discontinued operation    2,218  
Asset, held-for-sale, not part of disposal group      
Other current assets27,16822,16212,4379,55610,3554,825
Other undisclosed current assets63,16429,56524,82823,14714,074936
Total current assets:366,961237,704206,401170,239139,950125,997
Noncurrent Assets
Operating lease, right-of-use asset3,1072,5542,7593,8163,474
Property, plant and equipment9,4419,4528,88711,70116,91117,255
Intangible assets, net (including goodwill)21,38814,158    
Goodwill5,6535,112    
Intangible assets, net (excluding goodwill)15,7359,046    
Restricted cash and investments      255
Deferred income tax assets86,10886,65095,412103,46712,799
Other noncurrent assets13,10213,97810,4458,4306,66712,077
Other undisclosed noncurrent assets      13,609
Total noncurrent assets:133,146126,792117,503127,41439,85143,196
TOTAL ASSETS:500,107364,496323,904297,653179,801169,193
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities101,09884,58380,47060,55958,91558,160
Employee-related liabilities11,625   
Accounts payable67,38260,14142,39432,40531,99535,605
Accrued liabilities33,71624,44226,45128,15426,92022,555
Deferred revenue54,98444,26833,74032,30421,872
Debt2,395   9,0009,000
Restructuring reserve1,5326001,3812,7372,7381,100
Other liabilities22,928     
Contract with customer, liability13,962
Other undisclosed current liabilities777610(11,112)7691,445(11)
Total current liabilities:183,714130,061104,47996,36993,97082,211
Noncurrent Liabilities
Long-term debt and lease obligation47,151 2,4123,2232,303 
Long-term debt, excluding current maturities47,151     
Liabilities, other than long-term debt15,30614,33715,26014,72614,84714,288
Deferred revenue8,0397,4168,9208,5928,142
Contract with customer, liability9,662
Deferred income tax liabilities492492563614545
Liability for uncertainty in income taxes3,8663,9755,5045,1645,7593,606
Restructuring reserve      200
Other liabilities391314273356401820
Operating lease, liability2,5182,1402,4123,2232,303
Other undisclosed noncurrent liabilities      1,178
Total noncurrent liabilities:62,45714,33717,67217,94917,15015,466
Total liabilities:246,171144,398122,151114,318111,12097,677
Equity
Equity, attributable to parent253,936220,098201,753183,33568,68171,516
Common stock1251151121125454
Treasury stock, value(6,479)(6,147)(6,147)(787)  
Additional paid in capital856,735830,048823,259818,939814,337815,196
Accumulated other comprehensive loss(15,426)(16,004)(16,029)(14,327)(14,969)(12,736)
Accumulated deficit(581,019)(587,914)(599,442)(620,602)(730,741)(730,998)
Total equity:253,936220,098201,753183,33568,68171,516
TOTAL LIABILITIES AND EQUITY:500,107364,496323,904297,653179,801169,193

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
Revenues357,261346,593302,959274,911238,642243,858
Cost of revenue
(Cost of Goods and Services Sold)
(226,082)(222,422)(193,724)(172,296)(153,946)(164,588)
Gross profit:131,179124,171109,235102,61584,69679,270
Operating expenses(106,820)(97,762)(80,490)(80,405)(81,318)(77,902)
Operating income:24,35926,40928,74522,2103,3781,368
Nonoperating income (expense)(1,642)(3,306)1,69023038517
Investment income, nonoperating    230385267
Loss, foreign currency transaction, before tax      (664)
Other nonoperating income (expense)(1,642)(3,306)1,690   
Interest and debt expense     (54)(102)
Other undisclosed income from continuing operations before equity method investments, income taxes      267
Income from continuing operations before equity method investments, income taxes:22,71723,10330,43522,4403,7091,550
Other undisclosed loss from continuing operations before income taxes      
Income from continuing operations before income taxes:22,71723,10330,43522,4403,7091,550
Income tax expense (benefit)(7,594)(11,575)(9,275)87,699(3,452)8,188
Income from continuing operations:15,12311,52821,160110,1392579,738
Income before gain (loss) on sale of properties:21,160110,1392579,738
Net income available to common stockholders, diluted:15,12311,52821,160110,1392579,738

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
6/30/2020
6/30/2019
Net income:15,12311,52821,160110,1392579,738
Other comprehensive loss     (2,233)(131)
Comprehensive income (loss):15,12311,52821,160110,139(1,976)9,607
Other undisclosed comprehensive income (loss), net of tax, attributable to parent71525(1,702)642  
Comprehensive income (loss), net of tax, attributable to parent:15,83811,55319,458110,781(1,976)9,607

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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