Aviat Networks appoints new board member

AUSTIN, Texas - Aviat Networks , Inc. (NASDAQ: NASDAQ:AVNW), a provider of wireless transport and access solutions with a market capitalization of $248 million, has announced the appointment of Scott Halliday to its Board of Directors, effective January 31, 2025. Halliday, an independent member, will also serve on the company’s Audit Committee. According to InvestingPro data, the company’s stock has experienced significant volatility, with a 33% decline over the past six months despite maintaining strong liquidity metrics.

With a career spanning 38 years at EY (formerly Ernst & Young), Halliday has held senior and board-level positions, including Chairman of EY’s United Kingdom (TADAWUL:4280) and Japan firms, and Director of EY Global, Americas, EMEIA, and Japan boards. His experience includes leading multibillion-dollar P&L operations and overseeing thousands of employees, while also contributing to the development of the Audit Firm Governance Code in the UK and Japan.

Halliday’s extensive background in financial audit and governance, as well as his advisory role to boards of directors and audit committees at Global 500 companies and international governments, is expected to bring valuable insights into Aviat’s strategic growth, profitability, and shareholder value creation.

John Mutch, Chairman of Aviat Networks, expressed his confidence in Halliday’s addition to the board, highlighting his leadership in corporate finance and governance.

Aviat Networks prides itself on delivering reliable products, services, and support to its customers, with over one million systems sold in 170 countries. The company’s commitment to simplifying network operations and enhancing customer experience has been a cornerstone of its operations for over 70 years. Aviat is headquartered in Austin, Texas.

The information in this article is based on a press release statement from Aviat Networks.

In other recent news, Aviat Networks, a wireless transport and access solutions provider, has recently enhanced its cybersecurity measures. The company has introduced an improved Secure Software (ETR:SOWGn) Development Lifecycle (SSDLC) process and a Software Vulnerability Alert (SVA) service. Aviat’s SSDLC process incorporates security at each stage of software development, validated by third-party organizations and aligning with Open Worldwide Application Security Project standards. The SVA service offers customers proactive notifications regarding potential vulnerabilities identified by the MITRE Corporation.

On the financial front, Aviat Networks reported a slight revenue increase to $88.4 million in the first quarter of fiscal year 2025, a 1.7% year-over-year increase. This growth was largely due to international gains, including significant contributions from the recent Pasolink acquisition. However, the company reported a decline in non-GAAP gross margin to 23%, and an adjusted EBITDA loss of $7.7 million. The company expects gross margin improvements in the second quarter due to a better project mix and software revenue normalization.

Despite challenges, Aviat Networks remains optimistic about growth potential, particularly in the private 5G sector and with the upcoming ProVision Plus software transition opportunity. The company also received its first order for the Aprisa 5G router from a U.S. utility. For fiscal year 2025, the company projects full-year revenues between $430 million and $470 million, with an adjusted EBITDA ranging from $30 million to $40 million. These are the recent developments for Aviat Networks.

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