Aviat Networks Schedules Release of Preliminary First Quarter of Fiscal 2015 Financial Results for December 10, 2014; Submits Plan of Compliance to NASDAQ

Dec 03, 2014, 18:09 ET from Aviat Networks

SANTA CLARA, Calif., Dec. 3, 2014 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in microwave networking solutions, today announced that it will report preliminary first quarter of fiscal 2015 financial results at approximately 4:00 p.m. Eastern Time (ET) on Wednesday, December 10, 2014. Concurrently, Aviat announced that it submitted a plan to regain compliance under NASDAQ's Listing Rules related to delayed Form 10-K and Form 10-Q filings.

Aviat Networks will host a conference call at 4:30 p.m. ET on December 10, 2014 to discuss its preliminary financial results for the first quarter of fiscal 2015. To listen to the live conference call, please dial toll free 888-572-7034 or 719-325-2215, access code 1917586, by 4:20 p.m. ET. Investors are invited to listen via webcast, which will be broadcast live and via replay approximately two hours after the call at http://investors.aviatnetworks.com/events.cfm.

Due to issues associated with its year-end financial reporting process, Aviat delayed filing its Annual Report on Form 10-K for the fiscal year ended June 27, 2014, and delayed filing its Quarterly Report on Form 10-Q for its fiscal quarter ended September 26, 2014. The Form 10-Q cannot be filed until the Form 10-K is filed. Under NASDAQ's Listing Rules, Aviat was required to submit a plan to regain compliance with Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission.

NASDAQ is now evaluating the plan. If the plan is accepted, Aviat can be granted an exception of up to 180 calendar days from the Form 10-K's due date, or until March 24, 2015, to regain compliance.

Aviat is working to complete and file the Form 10-K and the Form 10-Q; given the completion of the forensic audit, Aviat expects to file as promptly as practicable. These filing delays have no immediate effect on the listing or trading of Aviat's common stock on the NASDAQ Global Select Market.

About Aviat Networks

Aviat Networks, Inc. (NASDAQ: AVNW) is a leading global provider of microwave networking solutions transforming communications networks to handle the exploding growth of IP-centric, multi-Gigabit data services. With more than 750,000 systems installed around the world, Aviat Networks provides LTE-proven microwave networking solutions to mobile operators, including some of the largest and most advanced 4G/LTE networks in the world. Public safety, utility, government and defense organizations also trust Aviat Networks' solutions for their mission-critical applications where reliability is paramount. In conjunction with its networking solutions, Aviat Networks provides a comprehensive suite of localized professional and support services enabling customers to effectively and seamlessly migrate to next generation Carrier Ethernet/IP networks. For more than 50 years, customers have relied on Aviat Networks' high performance and scalable solutions to help them maximize their investments and solve their most challenging network problems. Headquartered in Santa Clara, California, Aviat Networks operates in more than 100 countries around the world. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Twitter, Facebook and LinkedIn.

SOURCE Aviat Networks