AVNW - Earnings call transcript Q2 2021

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Operator

Good afternoon. Welcome to Aviat Networks Second Quarter Fiscal 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. Please note, this conference is being recorded. the to turn host, now would conference your over Mr. I Finance Vice Relations. President Fanneron, and of Keith Global Investor Thank you.

You may begin.

Keith Fanneron

webcast. Thank you, XXXX and fiscal second Networks and welcome results to conference Aviat quarter call

release President second can With are and IR You me of at of today a website and Pete will along our Form approximately today's our XX-Q, call section updated presentation in CEO, in find who investor the with replay Aviat's www.aviatnetworks.com, Smith, press opening two hours. quarter, remarks financial Pete by for half remarks our on followed who'll with the provide first on fiscal CFO, company's begin and outlook Chang, followed by the and closing will strategy then XXXX. Eric review Q&A. results Aviat's of the fiscal quarter

and during reflect uncertainties forward-looking of from that call call, actual economic may in evolve statements. and and financial but today's business, risks other this including different projections, management to webcast differ and assumptions, statements impact COVID-XX results forward-looking webcast of opinions regions. products limited new the only Aviat's expansions, reminder, could to relating of make not and date statements those These the and business and As statements to the as materially regarding a company's cause activity drivers,

of Additional public XXXX. August future from revise statements any to annual information report on FormXX-K information undertakes results statements on on make can light SEC actual the found company these materially factors XX, our in revision that with no forward-looking made differ or events. call or to could cause in be on this The filed of obligation new the

available I'd Pete? and which to include Pete reconciliation GAAP Smith. the which webcast, to financial management during to Please At financial the supplemental information. our therein, www.aviatnetworks.com and this section CEO, non-GAAP and Additionally, over and of Aviat's non-GAAP to is IR our President other at like measures. press website GAAP call time, turn tables will reference refer and both release in financial call today's

Pete Smith

I safe our for expense working and remotely off rural key broadband a quarter Focused and Thanks The hope company improvements. bottom than in our of the commitment position period reductions, is quarterly Keith, hope more great good across joining revenues Thanks, to new mobile EBITDA everyone adjusted everyone. a everyone expense well, of expansion, during customer review this a us to record years members to pandemic. sheet year. growth, five in in successful and solid line significant and balance afternoon, by XG reduction, highest margin meaningful remain continued the I execute Aviat margins, long-term managing team the COVID-XX through our focus liquidity and all reported areas business. resulted and wins businesses. and of and on

International revenues revenue the the quarter. we fiscal XX.X% versus mix benefited driven private with improvement from During XG, XX% XX.X% XX.X% North second and were EBITDA year EBITDA improved Adjusted period $XX.X margins sales, the quarter from second the of for quarter, a broadband of were overall primarily our XXXX, quarter Adjusted $XX.X quarter. million year, from increased our was increased at fiscal first representing by year-over-year. networks increased including year-over-year. record XXXX. last over Revenue and revenue $X.X strong improved second revenues X.X% our year first rural year and software improvement from sequentially American These ago quarter an X.X% sales, for the businesses. an million same quarter million.

demonstrated services in the transport key these wireless networks XG, rural and We've we Aviat's quarter, demonstrate the products, wins and e-commerce. private offerings continue broadband. to and During of in viability differentiation software with

radio platform of industry's ownership. band prior calls, on which simplest a mentioned total band solution, multi I've As provides high lowers cost box the multi our single customer's capacity

Our unique more award recently Tier pleased this X been a to on selected, and to led further believe solutions key have position hardware XG a U.S.-based be look networks. more selected operator we vendor. by being Aviat We microwave validates forward and wireless solutions this as couldn't soon. backhaul leader sharing transport software for our XG We multiband in as a to

the multimillion a wireless also Internet During to rural speed with broadband awarded second high was for Nextlink quarter, connectivity. dollar contract support Aviat backhaul

Aviat's ownership service billion differentiated wins will internet Nextlink result and Texas, Illinois, America, commercial Aviat to to U.S. residential leading XG a has the Rural networks, connectivity a about broadband our of remain lowest single operator support. gain North optimum by, Tier business speed With design industry's excited service and meaningful Kansas builds local billion remain a having system and and growing. that antennas XG simplifies and fund X funding, planning, benefit new and capacity, total our XG and drive that network next radios ahead. upgrades, highly store small for reduced Oklahoma, subscribers and the government high the shipping, broadband multiband backhaul offering. business $XX from driven are Nebraska. and U.S.-based provider offering the Rural is as in private Digital Nextlink and for and Fund. American and We strong provides Both the lay highest respect Aviat for costs reliability, the the will box only logistics of rural simplified rural opportunities better cost solution purchasing day including XG the $X Opportunity for Aviat software

success keys and Our leading with services RF are software, along Aviat's performance capabilities here. to our

We our increased , interference network analysis, and unique software FAS in monitoring Frequency business a private network providing continue offering or orders for uptime. and customers Software for the Assurance reliability to receive

we on the innovative focus trajectories. their mentioned continuous long platform At announcing look are team Our solutions. software I results. services execution and team, want and them I forward remains the recognize a commercial to our and improvement for key operations new of term software outset, growth, the for to

strengthened development additions new we of additions in team our lead will In lead differentiation in Astrid drive to Spencer and the improvements HR These and have our and the function, organization. turn with our our in products addition, talent Elbe to Stoakley services. product

call let Eric, turning couple to observations me over insights. a provide Before additional and the

to quarter, financial demonstrate first demand. And a this our year. and efforts half share very of to results. are execute. operational First, We our collective and grow good to our those fiscal was continued of remain We've reflected focused in continue ability and take to and

continue to significant cost realize optimizing savings. cost our announced addition, greater on drive lower to value. profitability, shareholder and our remain previously on track improving we In progress made and must expenses We've to and structure

software some we our XG, broadband, services networks coming that, for well capture forward, drivers, are see financials significant our turn and three positioned with to Looking me let rural the With differentiated to back we over Eric? before products private and opportunities review there final call Eric offering. and significant comments. to believe

Eric Chang

Pete, Thank good everyone. you, and afternoon,

remarks financial press were today, my noting During which be quarter the financials highlights, our I release, second first will filed this Form can fiscal of some XXXX key both found detail and half and XX-Q afternoon. of earlier our review in

quarter comparisons all of of of and quarter are otherwise. a first As second XXXX discussed of second the fiscal half and fiscal XXXX, reminder, first between between unless half XXXX the fiscal fiscal the XXXX, and noted today

an $XX driven revenues period as private compared or million of year, million reported as international for quarter, we $XX.X second growth. the as by our sales network million the same last of to U.S. $XX.X business, mainly increase total For XX%, well

quarter the for first As quarter was of the fiscal highest revenue Pete mentioned, since second the our XXXX. total

period growth upon quarter, revenue primarily Aviat's During its network year, of the was for from for period our an by last quarter, million differentiations. focus in same North million the to last sales, increase million the straight $XX.X North products and unique business. private the for of and XX.X% $XX.X services the quarter, at team to $XX.X compared America or comprised the continue continues XX% which total year. to same return revenue coming $XX.X American as on almost second driven for quarter International million seizing the expanding second

accounts, our commercial reminder strategy, new and implement as capturing business, Tier a to differentiated. partnerships value X sales defending we our through X continues team Tier which expanding while international telecom winning are new Our includes reach

execution, in strategy continue we compared for our year. $XXX.X million to half early the first paying last of the to see this international off. fiscal the for $XXX.X period million benefits of same Revenue still While was XXXX

of are our XXXX, quarterly We all new again our backlog quarter to $XXX to the international remain above pleased continues that strategy. recognizing million, due our domestic fiscal revenue sales first and focus laser since after even highest

gross in margins year. product include quarter gross respectively, as XX.X% for XX.X% and quarter Key basis, and a XX.X% non-GAAP second mix. on and at and to last regional of a XX.X% to service compared drivers GAAP improvements the strong Second mix, remain margin

compared expenses operating $XX.X million X% favorably were year-over-year, by $XX coming Second the impacted in million, approximately to GAAP year. same last quarter period for at

in quarter $XX.X were to Second and were restructuring due a to charges costs previously fiscal million reduced year. hiring exclude favorably initiatives expenses, base approximately restructuring compared the impacted in non-GAAP of announced implemented our slowdown operating compensation, last the second of GAAP impacted and million operating expenses plans, favorably non-GAAP including share at XXXX, Both saving impact half and travel. X.X% $XX.X which by

non-GAAP million year. per same net loss quarter year, period $X.X loss net the to period income second share net same a the at $X.XX quarter on last second share, per coming for EPS $X.XX compared in was Moving with non-GAAP compared $X.X million, of for to last

the for last while come was per the $X.X was for in for million to to $X.XX the Adjusted First a income million coming XXXX with same year, period compared the half non-GAAP adjusted last at year, record a EBITDA $X.X million last quarter period reported XX.X% $XX.X fiscal quarter. $X for we EPS year. share margins improvement per second $XX.X EBITDA million compared non-GAAP net in $X.XX same for the the period at from share, same million,

same of half for first year, million for XXXX. fiscal the surpassed year compared the last million was our million $X.X $XX.X $XX.X adjusted period and fiscal full the For XXXX, to the EBITDA

was XXXX margins EBITDA XX.X%. First adjusted half fiscal

on our with equivalents cash Moving sheet, end $XX million balance no at of outstanding. and the quarter cash second were the the loan to

Our net $XX.X million year-to-date. first the cash and from $X.X million increased quarter sequentially

current turn solid, security sheet very positioned for some our a us COVID-XX Pete? plans, Pete flexibility final leaving term maintaining to environment. while that, long and comments. in it With execute remains I'll well back our So balance to

Pete Smith

Thanks, Eric.

up of comments lot our the for entire us. team Just proud for a a am that Q&A. few to We is of work contributions of Aviat recognize in front their significant I there extremely additional before opening results.

term We achieve are right objectives. long to path the our on

revenue we've are range on for EBITDA fiscal the overall year the XXXX to million, guidance and in let's the $XXX year of our to progress we November during open $XX Given expect view, the issued We made X, be environment, With operator, XXXX. the up our first range half current currently to be the questions. and in million adjusted $XXX of for it that million. $XX million of updating

Operator

Litchfield first Your Theodore question of Instructions] [Operator from O'Neill Research. the comes line from

Theodore O'Neill

Thank you. a great quarter. Congratulations on

Pete Smith

Theo. Thanks,

Theodore O'Neill

you question Tower My for to broadband. thousand is Tower thousand Last on towers? of Internet put Yes. sites fixed do you all with broadband. signed agreement go on to rapid a to radios American announced co-locate your Nextlink wondering, And they that their broadband. get A facilitate is American the I'm question Thursday, an to and where first deployment something on on equipment

Pete Smith

through partner don't to their and So details means important positive. announcement an the and Net-net that we deployment, what is us. think worked neutral of have we we it haven't but for we're

Theodore O'Neill

customer? In curious in many of kind got how customers other you've say -- contract out for sort there And why large customer. you state a Okay. you I'm And quarter government can't Q, government you? the the name just type are the of XX.X%

Eric Chang

state This for given is haven't this name the so XX.X% it for here. to for customer is U.S. Yes, about government. It's the we public private quarter. safety. it But network, Eric permission been the is is

Theodore O'Neill

same of Okay. And then are the an opportunity there's states kind? where there other

Pete Smith

be without COVID demand. the were with and the of be we of And to a spread appropriations quarter. place And normally government could customer are there the the able there opportunities, And can of the excited our satisfy that and we and really taking our bringing in chain couple needs this to were been kind now, supply the concern were government be on right situation, future through that satisfy about state chain So their demand and excellence, to have quickly. side, urgency on supply would put revenue quarters. able over rather we the scoreboard way

Theodore O'Neill

Okay, great. Thanks very much.

Pete Smith

Sure.

Operator

B. from from comes Sherbetchyan Sarkis question line of next Riley Your the Securities.

Sarkis Sherbetchyan

Eric, Pete, Keith. afternoon. my taking and good Thanks for question Hey,

first So wondering quarter. color in rate question, sales for if you on the run provide the can software

Pete Smith

ahead, go -- Eric. So

Eric Chang

comment me let on that. So

then our in percentage will that software to up the But don't right lower percentage QX, position generally a rollout that at But eventually, back right when that actually number. in get a we're software now point ramping disclose It's we and revenue. margin, a that revenue. We not disclose So larger, disclose definitely amount. then we now. we're that

Pete Smith

Right.

jump company we little the over And couple So a in. year. were said been quarters, let for at that going invest me first to more software. in the I've we a

We are our it wins, but a out. and accretive reaches small, starting still it exciting when when is us. software break get margin for we to business, our it's then build it It's we'll materiality software really

Sarkis Sherbetchyan

you're given guess reach do to garner within XX expecting I want for that. the point a thanks it the XX to you'd Would think sales out? of on guess, within to trajectory. I months, the of investment handle be software materiality of months? what you a be better from when a to trends Okay, able be just that? to Would kind get break relative next it it

Pete Smith

next to and EBITDA But will have as in on. it that two year years years a I think make it's we would two to success our hope material it two it'll journey, is in report my and up that margin level margin. show So have away make our gross we as we the

I years. say two So would

Sarkis Sherbetchyan

guide. go for that's guess Okay, Thanks towards I and helpful. want fair that. the to

$XXX XX% you're the of $XXX close XX%. margin And I to an million. we end, million. suppose fiscal XX% think increased, EBITDA, $XX to from EBITDA for to you top perspective, of to perspective. on $XX low and and range range guidance end was works a a a for from Year-to-date margin said adjusted that out million million So I to have sales 'XX,

help correct half this your guess off first what's that the Just half back going break the Is guidance year, we've inclusively to fiscal your me if sales are remaining. I what margins fiscal seen EBITDA the in far reconcile year? to so I of the kind the the back half So look and down it year. you've versus of for the of year-to-date at done performance drop of versus think

Pete Smith

Eric, to start do you on that? want

Eric Chang

the up million, revenue right So also and XX, end based the and at high is it range let's if might. even we need we about the for than point, get guidance, then the to the the on lower QX at now But half then and first that for end high half. to second of $XXX of at point, just our we say need that to

Pete Smith

seven, history we're we with least five, a really conservative, EBITDA six, look would ahead our the quarter clock good one why path. and not did we on good our want like deliver or we conservative, we if a and to on and want to the company ourselves, We be feel and one on get roll delivering QX, eight be demand at approach, range to I has to guidance. that's of bad you some had track build We of have revenue at do the commitments. want to both range. want be the adjusted back, our this, in quarter, really We've in quarters, that. able way and good the want conservative a and to of And So we record we raised were

Sarkis Sherbetchyan

you're thoughts two like it for try And what logically, far? half just -- the business, I'm just the we the be to little worse why, I seen why have what so seems to right, the looks out reason the is reasonable trying and together about a color that. get on and second I get bit appreciate and those being second to would than more maybe thing like? trying conservatism guess, comment conservatism, one parse half it's as trying excited if just here, on pencil a another,

Pete Smith

Yes. those trajectory be If that. out growth also with. a for second better prior we're that guidance critical Well, the to half second to of conservatism? going the we're right. that I year our We'll on comments, and would I'll also comfortable half, you be take want a take put we do and will than the see say, year, We're

Sarkis Sherbetchyan

Thank all That's me. great. for you. Sounds

Pete Smith

Thanks.

Operator

of question Your Investment next Partners. Orin line Hirschman the comes AIGH from from

Orin Hirschman

both you. the on Congratulations Hi. progress, of

In terms of you're rural breaking the broadband, revenues. I of know percent don't if out yet

have broadband? If rural you're not kind a the like same follow-up in and then software I question, question, on of the

Pete Smith

operator presentation, network would broadband the investor way, that show about that operators one-third, we're rural in the in two-thirds the network segment. mobile our be So private we and network, mobile

break we out. So level that's the that

Orin Hirschman

Eric, can microwave link where other a rural play? versus question some in may that When you just of types you network with just the go do the a I broadband you if refresh physical versus links everybody ask exist? do link

Pete Smith

Yes.

make versus it the faster is fiber to deploy. microwave. let's So most common comparison And microwave

has rural link, up COVID and And our well chain capacity due much, So new work to is to goes that. due to on digging say when home, microwave than a from a fiber. it requirements, faster much a to supply broadband positioned laying set trench let's deliver provider

our said chain I giant our industry have analysts think that is some outperforming peers. supply

also then terrain. So or where or in broadband. water mountainous wins that's overall difficult microwave And there's situations

and situations market, microwave microwave in microwave. breakdown wins. that more economies emerging are an the split typically or And the in three And internationally where is part is fiber, one to those between So, U.S. favorable parts fiber microwave.

I'd if and possible I on flavor the competition, will. you our give as microwave, So much you fiber thought, as link

Orin Hirschman

the point topology the follow-up and for broadband. right just the where and customers continuing view take find Or customers they or important? to Is Is to rural on own existing other is which the you one have now in And those gotten penetrate formula so and recruited are put both, to customers they the new orders. or more? could goal to handheld their you

Pete Smith

important. Both are very

win we And provide or environment the continuing call own customer links. our on they service well as again their with dementia. The Aviat links, add the to is will in So own are and our can cloud. design designing a customers. The and our Nextlink customers, procure new new as links we'll new can they customers be we their website, what own was their links, customer design their existing

design that our and warranty that person. with existing real improve customer's new And internal customers engage our really no that procurement that's working. the growth customers customers. of some interaction forward platform the touch, we better serve customer's about more that Aviat and economics. for with think cloud better And our through are often the delivery. and cost engagement. rural to broadband improvement how expect no will as as the we well we're and more in going and goes more we well be And really repair to have drive provides industry. to from live excited an as satisfying metrics a And experience we're that and It's And lowest customers as as And to we environment, with

Orin Hirschman

on one guidance does Okay. a spread different topic, I the final it's lumpiness But for in augment create factor in mean, and to that deal. mega question a quarter second deal that and deliver And the potential half? or just, not it my lumpiness big it. that into deal does just XX% deal having like terms of a obviously,

Pete Smith

Yes.

create be get haven't a because QX. And a we customer to of And And, for than projects, XX% based in good big quarter. a guidance. do the certainly is while. big in project the project lot And into these of one were an like But quarters into And pulled because of factor is others had reasons want customer conservative look, really but to one thankful the So annual this can more pushed greater have some getting to of does business certainly of a quarter also we half. getting we're a is the would this with some and than our our for this that lumpiness. hopeful guidance out. funnel respect our we to be we a better on back be we basis things or project

Orin Hirschman

Thanks great. Okay, much. so

Operator

Your from [Indiscernible] next question from [ph] comes Royce Partners. Investment

Unidentified Analyst

the a have you problem do with Just availability? any chip quickie,

Pete Smith

No.

a had far interruptions not add supply have China chip we supply not watching maybe or have we We with chain issues any to the do So Taiwan, little any heavy chain. so inventory chip seen We're that, on availability. issues. but

Unidentified Analyst

the at cost savings Okay. year has impacted all? marketing that the category And in over last

Pete Smith

No.

lead processes products helped to in and that's So us we is one And continue on value grow have company make we focused our we marketing to line that of the strategic on top invest in value. generation new effort, and price our dollars marketing. sure that our the

Unidentified Analyst

direct? how of business is the much And

Pete Smith

that? you do Eric, want to answer

Eric Chang

I'd say least at direct. are XX% plus

Pete Smith

Yes.

through a So distribution our resellers. small or of part goes business

Unidentified Analyst

Thank much. very you

Operator

[Operator from Capital Instructions] REG Your Greulich comes Richard from next Advisors. question

Richard Greulich

evening. questions. Thank I you appreciate work. as for your shareholder. three I it a Good have

The as MTN one a is first customer.

Now, obviously the at upside much there? smaller. Does this it outlook offer is what or point any

Pete Smith

a want with say I Africa Richard, don't with They So, can MTN. contracted. funnel customer bigger Africa is has previous the any comment that in wins region, an is important We were safari.com. is, I customer had our to growing. What on specific and history

an forward. we hope with for player So Africa going about And would and grow in important I we're Africa. hopeful to what overall MTN Africa, say is

I on I'd question. about think that's that to as go far like as

Richard Greulich

Africa fair major any Okay. no conclude to probably the that in terms Is longer be way decrement to it in a revenues? going is of

Pete Smith

fair that's think Yes. to I conclude. Yes,

Richard Greulich

taxes. regarding two my And questions other

the paying have rate know come are you about So taxes? in operating large tax your was -- about, net does you forwards? I carry don't How quarter that XX%-XX%. given Where

Eric Chang

explain. Yes, let me so

pay pay are the do to each That's it the entity legal is our have those And it for What customers with guarantee almost we would service is legal legal pay transfer million. this transfer entities. where for basically taxes. we we is Where a or have tax R&D. tax those at that the a because pricing locations is or arrangements doing where that's marketing it's when So International pricing profit entities. we U.S. don't in $XXX have NOLs, of we

Richard Greulich

yes. figured, As I

against in you on appear Is So for because operating loss sheet. reserved net U.S. balance carry on the that, the the correct? value fully the forward, that doesn't it

Eric Chang

correct. about a couple did probably $X.X a release, ago -- let million. We single explain. That's a years so me did partial We partial was

COVID, done all haven't with release partial uncertainties. because this We a recently, just

we that's stand. So where

Richard Greulich

given going likely a on would you're you've trajectory what sheet? the that really back while. point into of that for much better forward, But a than release some you been reserve At balance

Eric Chang

it We're now. looking at right

Richard Greulich

I Okay. mean, think the again, you be should. against different use that? I most No, able protect to that's You've you protect fully a And much to confident of of you fair. over have programs that. the two it? you that Are been can do had to to able think, able being years, couple last still I not

Eric Chang

this we preservation to that X.X% want threshold, any us go protect it exemption. NOL? mean Yes, on for an NOL issue above have require plan the us You investor will to

we NOL. protect that's how our So

Richard Greulich

much. you very Thank great. Okay,

Pete Smith

you. Thank

Operator

Partners. from Investment from comes Hirschman AIGH question next Orin Your

Orin Hirschman

just Hi, up quick on follow one question. last the

a have whole you any payer, like rate so tax Do purposes? guesstimate? assuming you but If either the would the What as payer not U.S. look you speak rate you non-GAAP, fictitious do the apply to for non-GAAP idea that a or some on cash would are tax a U.S. in a as company a obviously

Eric Chang

Yes.

our release, at look non-GAAP basis cash $X.X the press million. in our annual total tax we if on estimate financials So about an you

quarter. per $X,XXX do we basically So

Orin Hirschman

the the it, on real XX% got you’re and point? basis apply did like like company look maintain assume company idea going non-GAAP a let's to look you will you tax to rate. what like any that and XX% look that profitability at you What if But would

Eric Chang

about all point after in that’s being, rate is going the the million the time exhaust But for At and pay that the have that that we year. we then to to first. $X.X worry tax U.S. is about Well, NOLs a run are rate cash international be. for we only what only

Orin Hirschman

want start you No, if purposes, I'm saying that you to rate. purposes, for that. if non-GAAP decide on applying for accountants you're a with full you non-GAAP purposes, on non-GAAP the I'm tax

look full full knowing not what So, that the tax not that you're cash like? tax. you well paying rate done But even Have analysis? would

Eric Chang

done Yes, that. we haven't

Orin Hirschman

Okay.

Pete Smith

magnitude of big. have because we Yes, the are pretty NOLs our

investors probably modeling beyond any So horizon. that's

Orin Hirschman

very Okay. Thanks much.

Operator

Your Greulich next question Capital from comes from Advisors. REG Richard

Richard Greulich

box have your beat something like to thought acquisitions dead NOL you forward, going about the either utilize horse, how Not a that? at you all can more but outside of or

Pete Smith

be at able not structure fit deal, careful we is were in could the pretty going the deal. way So, and that we be tax core and business. our acquisitions NOLs. get a sure make to we are the And, long it and to But overall synergies want to I accretive extract ago looking acquisitions. we're to We time would do to the do reason out a that learned to if so we would it certainly favorable a a that most leverage that of make be

driver. wouldn't I go a to as it's it's a far say consideration, certainly So so

Richard Greulich

is, Well, tax do corporate that. under fact lighter up your from go note, the in XX%, Biden appreciate I valuable. if more the Yes, much NOLs a rates to become administration, Sure. XX%

Pete Smith

agree. I

Richard Greulich

Thank you much. very

Pete Smith

you. Thank

Operator

the At last this our question. was presenters. over to turn That the call will time, I back

Pete Smith

I was want from safe on everyone. QX. more don’t in talk to and attending. Aviat. take any to time work, for good and going to everyone, a Thanks, about very days. very, should go We're stay anyone. to Thanks, quarter Everyone you for work please XX It healthy, stay back we'll

Operator

you call. this gentlemen, Thank today's concludes conference participating. and for Ladies

disconnect. may You now

Aviat Networks (AVNW) 4 Feb 212021 Q2 Earnings call transcript