Aviat Networks closes NEC wireless backhaul buy; pro forma EPS falls ~50% annually

AVIAT NETWORKS, INC.

Acquisition consideration: $42.1M cash + $23.4M in Aviat stock; closed Nov. 30, 2023.
NEC wireless transport business had ¥8,499M ($58.8M) net assets acquired as of Mar. 31, 2023.
Pro forma FY2023 revenue $535.2M; net income $6.1M vs Aviat standalone $11.5M.
Pro forma diluted EPS $0.48 vs Aviat standalone $0.97; Q1 FY2024 EPS $0.13 vs $0.34.
Business generated ¥25,552M ($188.6M) revenue but net loss of ¥63M ($0.5M) in FY2023.

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