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March 19, 2014
06:04 EDTCRNTCeragon Networks to build advanced wireless communications network for ONGC
Ceragon Networks announced that it was selected to design and build a high-capacity wireless backbone for India's Oil and Natural Gas Corporation, or ONGC. The new network will be used to connect offshore and onshore sites and will replace existing VSAT infrastructure. Ceragon will provide its Evolution Long Haul solution along with a range of services including: site-survey, system design and engineering, project management and installation. The full turnkey project is valued at several million dollars.
News For CRNT From The Last 14 Days
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December 18, 2014
10:01 EDTCRNTOn The Fly: Analyst Initiation Summary
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05:49 EDTCRNTCeragon Networks initiated with a Hold at Jefferies
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December 15, 2014
08:07 EDTCRNTCeragon Networks to host business news update conference call
Conference call will be held on December 15 at 9 am. Webcast Link
07:19 EDTCRNTCeragon Networks sees lowering headcount 14% as part of cost-cutting
"We are determined to return Ceragon to profitability as quickly as possible and to preserve our financial flexibility. The positive worldwide reception of our IP-20platform gives us confidence that our geographic revenue mix will improve. Meanwhile, steps are being taken to manage the revenue mix more carefully, and to seek revised pricing, payment and other terms on new orders in certain situations. We are encouraged by initial discussions with our customers in this regard. "In addition, we are making difficult but necessary changes at the operational level to further streamline the management organization, prioritize R&D projects, and improve product cost in order to further improve our competitive position. When fully reflected in our financial results in the second quarter of 2015, we expect to reduce quarterly operating expenses to approximately $21M-$22M from the current level of $26M-$27M. This expense level will be achieved primarily through an immediate headcount reduction of approximately 14%. The reason it is even possible for us to achieve a reduction of this magnitude is the significant time-to-market and technological advantage we have achieved with the IP-20 platform," said Ira Palti, CEO of Ceragon.
07:18 EDTCRNTCeragon Networks sees cutting expenses 17% in 2015 compared to prior year
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