Citing delayed sales, Ceragon announced that its Q1 revenues will be in the range of $89 million to $91 million, below the company's guidance of $95 million to $105 million. GAAP EPS is now expected to be in the range of $(0.36) to $(0.39). EPS on a non-GAAP basis is expected to be in the range of $(0.15) to $(0.18).
"Our revenues will not reach the low end of our guidance for the first quarter of 2013 because it is taking longer than we expected to close certain deals," said Ira Palti, President and CEO of Ceragon: "We experienced a level of bookings in Q1 lower than we would have expected based on seasonal weakness, reflecting operators' cautious approach, despite the need for additional capacity.
"We expect the re-evaluation of some aspects of customers' business models, as well as continued intense budget scrutiny, to cause longer sales cycles to persist, even though Q2 bookings are likely to show some improvement for seasonal reasons. We will provide more color during our regularly scheduled quarterly call on May 6th."
http://www.ceragon.com
