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CERAGON CERAGON NETWORKS REPORTS 2021 FIRST QUARTER FINANCIAL RESULTS Q1 2021 Financial Highlights : • • • Revenues of $ 68.3 million Operating Income of $ 0.4 million on a GAAP basis , or $ 0.7 million on a non - GAAP basis EPS of $ ( 0.01 ) per diluted share on a GAAP basis , or $ ( 0.01 ) per diluted share on a non - GAAP basis Q1 2021 Business Highlights : • • Strong bookings in Europe , North America , Latin America and India ; book - to - bill way above 1 Twelve 5G design wins to date , across all geographies • • Accelerated 5G evolution and OpenRAN momentum expected to drive multi - year growth New SoC for 5G is progressing and expected to be taped - out in July 2021 Little Falls , New Jersey , May 3 , 2021 - Ceragon Networks Ltd. ( NASDAQ : CRNT ) , the global innovator and leading solutions provider of 5G wireless transport , today reported its financial results for the first quarter ended March 31 , 2021 . Ira Palti , President & CEO , commented : " 2021 has been off to a good start both for the telecom industry in general and for us at Ceragon specifically . The amount of data flowing around the globe has increased at an exponential rate . As Tier - 1 and Tier - 2 operators step up their efforts to provide enhanced 4G coverage as well as new 5G services , many of them turn to Ceragon . " " In Q1 2021 , the accelerated 5G evolution along with the growing OpenRan movement has kept Ceragon's growing suite of innovative solutions in the spotlight . We achieved three new 5G design wins , saw very strong bookings across different regions , and were selected to participate in an OpenRan trial in TIM Brazil . Even though the industry is currently facing component shortages , which might affect our short - term deliveries , the global telecom industry is fast moving into a new era and Ceragon is well prepared to excel in it . " " As the Company's president & CEO for the last sixteen years , I've led the company from a simpler 2G world into today's more complex OpenRan , 5G world . It's with peace of mind and a feeling of accomplishment that I pass the keys of the CEO office to our successful former deputy CEO & CFO Doron Arazi . I'll continue serving Ceragon as vice - chairman of the board starting July . " Primary First Quarter 2021 Financial Results : Revenues were $ 68.3 million , up 22.2 % from $ 55.9 million in Q1 2020 and down 7.7 % from $ 74.0 million in Q4 2020. Our revenues varied from region to region and were in line with the effect that COVID has had on local business operations and network build - out plans . Gross profit was $ 20.1 million , giving us a gross margin of 29.5 % , compared with a gross margin of 25.1 % in Q1 2020 and 29.1 % in Q4 2020. The relatively low gross margin reflects continued high supply chain costs due to the COVID - 19 environment .