AVIAT NETWORKS INC
For the period ended Sep 27, 2024. Filed Nov 5, 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.
Sep 27, 2024 · Filed Nov 5, 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
| Three Months Ended | ||
|---|---|---|
| (In thousands) | September 27,2024 | September 29,2023 |
| Operating Activities | ||
| Net (loss) income | $(11,879) | $3,557 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
| Depreciation of property, plant and equipment | 1,317 | 1,168 |
| Amortization of intangible assets | 513 | 176 |
| Provision for uncollectible receivables | 350 | 14 |
| Share-based compensation | 1,664 | 1,834 |
| Deferred taxes | (6,826) | (170) |
| Inventory write-downs | 501 | 547 |
| Non-cash lease expense | 325 | 177 |
| Other non-cash operating activities, net | (37) | 17 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (15,498) | 7,043 |
| Unbilled receivables | (2,821) | (1,738) |
| Inventories | (13,197) | 1,955 |
| Accounts payable | 8,594 | 1,787 |
| Accrued expenses | (6,807) | (3,947) |
| Advance payments and unearned revenue | 20,015 | 1,998 |
| Income taxes payable | 1,773 | 331 |
| Other assets and liabilities | (5,152) | (769) |
| Net cash (used in) provided by operating activities | (27,165) | 13,980 |
| Investing Activities | ||
| Purchase of property, plant and equipment | (5,421) | (717) |
| Proceeds from sale of asset held for sale | 2,396 | — |
| Acquisition, net of cash acquired | (18,150) | — |
| Net cash used in investing activities | (21,175) | (717) |
| Financing Activities | ||
| Proceeds from revolver | 35,000 | 25,200 |
| Repayments of revolver | — | (25,200) |
| Payments for taxes related to net settlement of equity awards | (711) | (105) |
| Proceeds from issuance of common stock under employee stock plans | — | 285 |
| Net cash provided by financing activities | 34,289 | 180 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 1,293 | (223) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (12,758) | 13,220 |
| Cash, cash equivalents, and restricted cash, beginning of period | 64,934 | 22,521 |
| Cash, cash equivalents, and restricted cash, end of period | $52,176 | $35,741 |
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