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AUSTIN - Aviat Networks , Inc. (NASDAQ: NASDAQ:AVNW), a leader in wireless transport and access solutions with a market capitalization of $244 million, has recently announced enhancements to its cybersecurity measures with the introduction of an improved Secure Software (ETR:SOWGn) Development Lifecycle (SSDLC) process and a Software Vulnerability Alert (SVA) service. The announcement comes as the company's stock has shown strong momentum over the past month, despite experiencing a 35% decline over the previous six months, according to InvestingPro data. These initiatives are designed to meet the latest security requirements and provide additional protection for operators of mission-critical networks.
The company's SSDLC process incorporates security at each stage of software development, from initial definition to ongoing maintenance. This approach is validated by third-party organizations and aligns with standards set by the Open Worldwide Application Security Project (OWASP), aiming to proactively identify and mitigate potential vulnerabilities. With a healthy current ratio of 1.72, InvestingPro data shows the company maintains strong liquidity to support these initiatives.
Additionally, Aviat's SVA service offers customers proactive notifications regarding "common vulnerability/exposures" (CVE) identified by the MITRE Corporation, which is funded by the US Department of Homeland Security. Aviat will conduct nightly scans of its ProVision and ProVision Plus Management software source code and inform subscribed customers within 24 hours of any major or critical CVEs detected, along with recommended mitigation strategies or software patches.
Pete Smith, CEO of Aviat Networks, emphasized the company's commitment to network security, stating, "At Aviat, we take the security of our customer's networks extremely seriously." He expressed confidence that these new cybersecurity measures will ensure product integrity and provide customers with added peace of mind.
The implementation of SSDLC and SVA is expected to offer operators confidence that their Aviat management systems are proactively protected against known cybersecurity threats continuously.
Aviat Networks has a longstanding reputation in the industry, with over one million systems sold in 170 countries. The company provides a comprehensive suite of professional and support services, enabling customers to simplify their networks and operations. With its earnings report due on January 29, analysts maintain a strong buy consensus, with price targets ranging from $27 to $55. Discover more detailed insights and analysis in the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers what really matters about this and 1,400+ other top stocks.
This news is based on a press release statement from Aviat Networks, Inc.
In other recent news, Aviat Networks reported a modest revenue increase in the first quarter of fiscal year 2025, with earnings rising to $88.4 million, a 1.7% year-over-year increase. This growth was largely fueled by international gains, including significant contributions from the recent Pasolink acquisition. However, the company also reported a decline in non-GAAP gross margin to 23%, and an adjusted EBITDA loss of $7.7 million.
The company's CEO, Pete Smith, acknowledged these challenges but expressed optimism about Aviat's growth potential, particularly in the private 5G sector and with the upcoming ProVision Plus software transition opportunity. Aviat Networks also received its first order for the Aprisa 5G router from a U.S. utility.
The company adjusted its fiscal year 2025 guidance, projecting full-year revenues between $430 million and $470 million, with an adjusted EBITDA ranging from $30 million to $40 million. Despite a non-GAAP EPS loss of $0.87 due to weak U.S. Tier 1 capital expenditures and project delays, the company expects gross margin improvements in the second quarter due to a better project mix and software revenue normalization.
These are the recent developments for Aviat Networks, providing investors with an overview of the company's financial health and future prospects.
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