Exhibit 99.1
Selected Financial Information
On March 5, 2021, Aviat Networks, Inc. (the “Company” or “Aviat”) announced a two-for-one stock split in the form of a stock dividend. Each Aviat stockholder of record at the close of business on April 1, 2021, received one additional share of the Company’s common stock, par value $0.01 per share (the “Common Stock”) after close of trading on April 7, 2021.
The following net income (loss) per share, basic and diluted, has been derived from the audited financial statements of the Company contained in its Annual Report on Form 10-K for the fiscal year ended July 3, 2020, and its unaudited interim financial statements of the Company contained in its Quarterly Reports on Form 10-Q for the fiscal quarters ended January 1, 2021 and October 2, 2020, except that the net income (loss) per share, basic and diluted have been revised to reflect the two-for-one stock split in the form of a stock dividend of our issued and outstanding shares of Common Stock effective on April 7, 2021, as shown below.
The historical financial information set forth below may not be indicative of our future performance and should be read together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our historical financial statements and notes to those statements included in our Annual Report on Form 10-K for the fiscal year ended July 3, 2020, our Quarterly Reports on Form 10-Q for the quarters ended January 1, 2021 and October 2, 2020, and any future filings or other reports that we may file with the SEC.
AS REPORTED (QUARTERLY FINANCIAL DATA UNAUDITED)
| | | | | | | | | | | | |
| | | Years Ended | |
| (in thousands, except per share amounts) | | July 3, 2020 | | | June 28, 2019 | | | June 29, 2018 | |
Net Income | | $ | 257 | | | $ | 9,738 | | | $ | 1,845 | |
Net income per share | | | | | | | | | | | | |
Basic | | $ | 0.05 | | | $ | 1.81 | | | $ | 0.35 | |
Diluted | | $ | 0.05 | | | $ | 1.73 | | | $ | 0.33 | |
Shares | | | | | | | | | | | | |
Basic | | | 5,391 | | | | 5,377 | | | | 5,336 | |
Diluted | | | 5,468 | | | | 5,618 | | | | 5,647 | |
| | | | | | | | |
| | | Three Months Ended | |
| | | October 2, 2020 | | | September 27, 2019 | |
Net Income | | $ | 5,936 | | | $ | 54 | |
Net income per share | | | | | | | | |
Basic | | $ | 1.10 | | | $ | 0.01 | |
Diluted | | $ | 1.07 | | | $ | 0.01 | |
Shares | | | | | | | | |
Basic | | | 5,411 | | | | 5,347 | |
Diluted | | | 5,546 | | | | 5,530 | |
| | | | | | | | |
| | | Three Months Ended | |
| | | January 1, 2021 | | | December 27, 2019 | |
Net Income (loss) | | $ | 6,641 | | | $ | (1,671 | ) |
Net income (loss) per share | | | | | | | | |
Basic | | $ | 1.21 | | | $ | (0.31 | ) |
Diluted | | $ | 1.16 | | | $ | (0.31 | ) |
Shares | | | | | | | | |
Basic | | | 5,504 | | | | 5,427 | |
Diluted | | | 5,710 | | | | 5,427 | |
