AVIAT NETWORKS INC
For the period ended Mar 29, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 29, 2024 · Filed May 1, 2024
AVNW$15.86-17.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended | ||
|---|---|---|
| (In thousands) | March 29,2024 | March 31,2023 |
| Operating Activities | ||
| Net income | $10,313 | $8,189 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation of property, plant and equipment | 3,077 | 4,193 |
| Amortization of intangible assets | 651 | 372 |
| Provision for uncollectible receivables | 569 | 476 |
| Share-based compensation | 5,545 | 5,135 |
| Deferred taxes | 2,180 | 5,189 |
| Inventory write-downs | 3,589 | 1,715 |
| Noncash lease expense | 575 | 524 |
| Net (gain) loss on marketable securities | (61) | 1,730 |
| Other non-cash operating activities, net | 83 | 34 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 14,312 | (12,212) |
| Unbilled receivables | (17,039) | (17,719) |
| Inventories | 7,037 | (9,919) |
| Accounts payable | (8,841) | 16,344 |
| Accrued expenses | 11,449 | (3,594) |
| Advance payments and unearned revenue | (4,213) | 1,948 |
| Income taxes | 1,099 | 1,932 |
| Other assets and liabilities | (8,096) | (13,342) |
| Net cash provided by (used in) operating activities | 22,229 | (9,005) |
| Investing Activities | ||
| Purchase of property, plant and equipment | (1,866) | (5,055) |
| Purchase of marketable securities | (925) | — |
| Proceeds from sale of marketable securities | — | 9,163 |
| Acquisition, net of cash acquired | (32,162) | (15,769) |
| Net cash used in investing activities | (34,953) | (11,661) |
| Financing Activities | ||
| Proceeds from revolver | 33,200 | 50,200 |
| Repayments of revolver | (33,200) | (44,000) |
| Proceeds from term loan | 50,000 | — |
| Repayments of term loan | (625) | — |
| Payments of deferred financing costs | (79) | — |
| Payments for repurchase of common stock - treasury shares | (332) | — |
| Payments for taxes related to net settlement of equity awards | (690) | (1,055) |
| Proceeds from issuance of common stock under employee stock plans | 1,005 | 1,074 |
| Net cash provided by financing activities | 49,279 | 6,219 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (597) | 9 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 35,958 | (14,438) |
| Cash, cash equivalents, and restricted cash, beginning of period | 22,521 | 37,104 |
| Cash, cash equivalents, and restricted cash, end of period | $58,479 | $22,666 |
| Supplemental disclosures of cash flow information | ||
| Non-cash investing and financing activities: | ||
| Common stock issued in connection with acquisition | $22,331 | $— |
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