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Ceragon 2Q loss more than doubles but beats Street

PARAMUS, N.J. (AP) -- Wireless communications infrastructure provider Ceragon Networks Ltd. said Monday that its second-quarter net loss more than doubled as revenue fell.

The net loss in the three months to June 30 grew to $7.5 million, or 20 cents per share. That compares with a net loss of $2.9 million, or 8 cents per share, a year ago.

Excluding stock-based compensation expenses and other items, the adjusted loss was 15 cents per share, slightly better than the 17 cents expected by analysts polled by FactSet.

Revenue fell 20 percent to $90.1 million but still came in better than the $87 million analysts had expected.

Shares of Ceragon rose 21 cents, or 6.6 percent, to $3.41 in midday trading Monday.