Aviat Networks, Inc. (AVNW) financial statements (2022 and earlier)

Company profile

Business Address 200 PARKER DRIVE
AUSTIN, TX 78728
State of Incorp. DE
Fiscal Year End June 30
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)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments42,32647,94241,61831,94637,42535,92230,701
Cash and cash equivalents42,32647,94241,61831,94637,42535,65830,479
Short-term investments     264222
Restricted cash and investments    3541 
Receivables111,99385,65672,74679,71757,23558,05563,449
Inventory, net of allowances, customer advances and progress billings   8,57321,29021,79427,293
Inventory   8,57321,29021,79427,293
Capitalized contract cost1,4231,7201,157 
Disposal group, including discontinued operation 2,218     
Assets held-for-sale, not part of disposal group2,218      
Costs in excess of billings  5,117
Other current assets11,1249,55610,3554,8256,0066,40210,790
Other undisclosed current assets25,96323,14714,0749361,5071,8713,064
Total current assets:195,047170,239139,950125,997123,466124,585140,414
Noncurrent Assets
Operating lease, right-of-use asset3,3713,8163,474
Property, plant and equipment10,01011,70116,91117,25517,17916,40618,162
Restricted cash and investments   255336  
Deferred income tax assets99,913103,46712,799
Other noncurrent assets8,7828,4306,66712,0779,8165,4071,467
Deferred tax assets, net  6,1786,068
Other undisclosed noncurrent assets   13,6095,264  
Total noncurrent assets:122,076127,41439,85143,19632,59527,99125,697
TOTAL ASSETS:317,123297,653179,801169,193156,061152,576166,111
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities68,96060,55958,91558,16056,74255,53956,422
Accounts payable43,51532,40531,99535,60530,87833,60633,217
Accrued liabilities25,44528,15426,92022,55525,86421,93323,205
Deferred revenue35,75332,30421,872
Debt  9,0009,0009,0009,0009,000
Restructuring reserve1,7872,7372,7381,1001,4261,4753,910
Deferred revenue and credits 20,00430,615
Contract with customer, liability13,962
Other undisclosed current liabilities5957691,445(11)19,300  
Total current liabilities:107,09596,36993,97082,21186,46886,01899,947
Noncurrent Liabilities
Long-term debt and lease obligation2,9243,2232,303    
Operating lease, liability2,9243,2232,303
Liabilities, other than long-term debt14,21214,72614,84714,2884,69112,21812,707
Deferred revenue and credits 7,0628,387
Deferred revenue7,9598,5928,142
Contract with customer, liability9,662
Deferred tax liabilities, net  1,6811,497
Deferred income tax liabilities608614545
Liability for uncertainty in income taxes5,2935,1645,7593,6062,9412,4531,414
Restructuring reserve   200500  
Other liabilities3523564018201,2501,0221,409
Other undisclosed noncurrent liabilities   1,1787,386  
Total noncurrent liabilities:17,13617,94917,15015,46612,07712,21812,707
Total liabilities:124,231114,318111,12097,67798,54598,236112,654
Stockholders' equity
Stockholders' equity attributable to parent192,892183,33568,68171,51657,51653,79753,116
Common stock1121125454545353
Treasury stock, value(3,408)(787)     
Additional paid in capital820,791818,939814,337815,196816,426813,733811,601
Accumulated other comprehensive loss(14,599)(14,327)(14,969)(12,736)(12,605)(11,785)(11,157)
Accumulated deficit(610,004)(620,602)(730,741)(730,998)(746,359)(748,204)(747,381)
Stockholders' equity attributable to noncontrolling interest     543341
Total stockholders' equity:192,892183,33568,68171,51657,51654,34053,457
TOTAL LIABILITIES AND EQUITY:317,123297,653179,801169,193156,061152,576166,111

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

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Revenues289,112274,911238,642243,858242,506241,874268,690
Revenue, net 241,874268,690
Cost of revenue
(Cost of Goods and Services Sold)
(183,418)(172,296)(153,946)(164,588)(162,003)(166,402)(206,973)
Gross profit:105,694102,61584,69679,27080,50375,47261,717
Operating expenses(81,905)(80,405)(81,318)(77,902)(79,186)(76,457)(89,163)
Operating income (loss):23,78922,2103,3781,3681,317(985)(27,446)
Nonoperating income (expense)(84)23038517(220)169(993)
Investment income, nonoperating156230385267198610252
Foreign currency transaction gain (loss), before tax   (664)214(712) 
Other nonoperating expense(240)     (1,245)
Interest and debt expense  (54)(102)(29)(50)(104)
Other undisclosed income from continuing operations before equity method investments, income taxes1  267198261 
Income (loss) from continuing operations before equity method investments, income taxes:23,70622,4403,7091,5501,266(605)(28,543)
Other undisclosed income from continuing operations before income taxes28      
Income (loss) from continuing operations before income taxes:23,73422,4403,7091,5501,266(605)(28,543)
Income tax expense (benefit)84,42687,699(3,452)8,1881,036(16)(1,635)
Income (loss) from continuing operations:108,160110,1392579,7382,302(621)(30,178)
Income from discontinued operations      541
Net income (loss):108,160110,1392579,7382,302(621)(29,637)
Net loss attributable to noncontrolling interest    (457)(202)(270)
Net income (loss) available to common stockholders, diluted:108,160110,1392579,7381,845(823)(29,907)

Comprehensive Income ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Net income (loss):108,160110,1392579,7382,302(621)(29,637)
Other comprehensive loss  (2,233)(131)(820)(628)(2,529)
Comprehensive income (loss):108,160110,139(1,976)9,6071,482(1,249)(32,166)
Comprehensive loss, net of tax, attributable to noncontrolling interest    (457)(202)(270)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(228)642     
Comprehensive income (loss), net of tax, attributable to parent:107,932110,781(1,976)9,6071,025(1,451)(32,436)

Statements sources

The financial statements are based on the company's filings with the 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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