Published on 17 Feb 2023 on Zacks via Yahoo Finance
Cambium Networks Corporation CMBM reported healthy fourth-quarter 2022 results, with the bottom line and the top line beating the respective Zacks Consensus Estimate. The leading wireless solutions provider recorded higher revenues year over year on growth in Point-to-Point and Enterprise product categories and continuous improvement in the supply chain environment.
Net Income
On a GAAP basis, net income in the December quarter was $10 million or 35 cents per share compared with $1.4 million or 5 cents per share in the prior-year quarter. Top-line expansion, low-interest expenses and significant income tax benefits are key drivers of improvement during the quarter.Non-GAAP net income came in at $10.3 million or 36 cents per share compared with $4.4 million or 16 cents per share in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate by 11 cents.For the full year 2022, GAAP net income amounted to $20.2 million or 72 cents per share compared with a net income of $37.4 million or $1.31 per share in the previous year. On a non-GAAP basis, net income in 2022 declined to $26.9 million or 94 cents per share from respective tallies of $35.6 million or $1.26 per share in 2021.