4G wireless backhaul solutions developer Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) has received new orders for its advanced FibeAir platforms from a leading Indian operator. The company did not disclose the name of the customer, or the size of the orders, but market sources estimate it at a few million dollars.
Ceragon president and CEO Ira Palti said, "We are very happy to see that the regulatory process related to security considerations in India is in place and orders are beginning to be released by operators as they receive clearance from the Indian government,. We expect revenue from the current orders to be recognized during 2011, while continuing to target revenue growth in the range of 30-35% for 2010."
With more than 110 million users added in the first half of 2010, India's mobile subscriber-base has grown to over 635 million. According the Telecom Regulatory Authority of India (TRAI) more than 94% of telephony services in India are passed over wireless networks. Ceragon is an important player in India's expanding wireless backhaul market.
Ceragon's share price rose 6.7% in premarket trading on Nasdaq today to $8.30, giving a market cap of $267 million. The share price rose 2.6% by mid-afternoon on the TASE today to NIS 30.10.
Published by Globes [online], Israel business news - www.globes-online.com - on August 30, 2010
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