Aviat Networks, which supplies wireless transmission solutions, has appointed Michael Pangia as its new CEO, replacing Chuck Kissner, who will continue as Chairman of the Board of Directors.
Pangia previously was Aviat Networks’ SVP and Chief Sales Officer since he joined in March 2009 and was part of the management team that led the restructuring and turnaround efforts over the past year. Prior to joining Aviat Networks, Pangia held a number of executive positions at Nortel Networks in Sales, Operations, and Finance. As President of the Asia Region, he had P&L responsibility for $1.8 billion in sales.
In addition, Aviat announced that is Q2 financial results are likely to come in ahead of its previously issued guidance. On May 5, 2011, the company provided revenue guidance of $105 million to $120 million for the fourth quarter FY2011, based on backlog, business trends and operational changes, and some supply risks specific to Japan. Although results are not yet finalized, the company now believes revenue for its fourth quarter FY2011 will be in the range of $115 million to $120 million. In addition, the company expects to report that the orders book-to-bill ratio was greater than 1 and that the company’s cash balance increased from end of the previous quarter. http://www.aviatnetworks.com
