Israel-based wireless service provider Ceragon Networks Ltd. said Friday its first-quarter profit rose 65 percent as growing demand in Asia, Europe and the Middle East more than offset recent weakness in North America.
Net income rose to $4.3 million, or 11 cents per share, from $2.6 million, or 9 cents per share, in the year-earlier period.
Excluding one-time compensation expenses, Ceragon earned 13 cents per share compared to 11 cents per share, a year earlier.
Revenue rose 39 percent to $47.2 million from $33.9 million.
Analysts polled by Thomson Financial expected, on average, earnings per share of 13 cents and revenue of $46.1 million.
Shares rose 36 cents, or 4 percent, to $9.35 in morning trading.
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