Aviat Networks Reports Record Q1 Bookings Amid Revenue Declines and Supply Chain Headwinds
Aviat Networks (AVNW) reported first-quarter fiscal 2027 results characterized by a divergence between demand and revenue realization. While quarterly revenue fell 5% to $102 million due to supply chain constraints, component shortages, and a flooding event in Thailand, the company achieved record bookings of over $150 million, a 75% increase year-over-year. This surge in demand is reflected in a book-to-bill ratio exceeding 1.5 and a backlog that grew by $70 million since the previous quarter. Despite strong demand, profitability was pressured, with non-GAAP EPS dropping to $0.12 from $0.43 in the prior year due to lower gross margins. Management is also implementing a revenue rationalization strategy, removing $25 million to $30 million of low-margin projected revenue following pricing disagreements with customers in the APAC region. The company maintains full-year adjusted EBITDA guidance of $50 million to $55 million.