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•	Revenue at $85.9 million

•	Book to bill was above 1

•	GAAP Gross Margin at 23.6%; Non-GAAP Gross Margin at 25.0%

•	GAAP Operating Expense at $31.3 million; Non-GAAP Operating Expense at $28.8 million

•	GAAP Net Loss including discontinued operations at $(12.1) million, or $(0.20) per share

•	Non-GAAP Loss from Continuing Operations at $(7.8) million, or $(0.13) per share

•	Revenue at $346.5 million

•	GAAP Gross Margin at 24.7%; non-GAAP Gross Margin at 25.1%

•	Non-GAAP Operating Expense at $120.4 million

•	GAAP Net Loss including Discontinued Operations of $(50.4) million, or $(0.82) per share

•	Non-GAAP Loss from Continuing Operations of $(35.2) million, or $(0.57) per share

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•	$0.6 million of share-based compensation expense;

•	$1.8 million of restructuring charges;

•	$1.2 million of excess and obsolete inventory write-down; and

•	$0.1 million of amortization of purchased intangibles.

•	$1.8 million of depreciation and amortization on property, plant and equipment; and

•	$0.1 million of interest expense.

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•	Revenue for the fiscal first quarter of 2015 in the range of $84 million to $89 million;

•	Non-GAAP operating expense for the fiscal first quarter of 2015 to be in the range of $26 million to $27 million; and

•	Cash generation in fiscal 2015.

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•	completion of our fiscal year end closing procedures and the audit of our financial statements and attestation of our internal controls over financial reporting by our independent registered accountants;

•	continued price and margin erosion as a result of increased competition in the microwave transmission industry;

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•	the impact of the volume, timing and customer, product and geographic mix of our product orders;

•	our ability to meet financial covenant requirements which could impact our liquidity;

•	our ability to meet projected new product development dates or anticipated cost reductions of new products;

•	our suppliers' inability to perform and deliver on time as a result of their financial condition, component shortages or other supply chain constraints;

•	customer acceptance of new products;

•	the ability of our subcontractors to timely perform;

•	continued weakness in the global economy affecting customer spending;

•	retention of our key personnel;

•	our ability to manage and maintain key customer relationships;

•	uncertain economic conditions in the telecommunications sector combined with operator and supplier consolidation;

•	the timing of our receipt of payment for products or services from our customers;

•	our failure to protect our intellectual property rights or defend against intellectual property infringement claims by others;

•	the results of restructuring efforts;

•	the effects of currency and interest rate risks; and

•	the impact of political turmoil in countries where we have significant business.

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(1)	Certain prior year period amounts are reclassified to conform to current period presentation.

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(1)	Certain prior year period amounts are reclassified to conform to current period presentation.

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(1)

The adjustments above reconcile our GAAP financial results to the non-GAAP financial measures used by us. Our non-GAAP income or loss from continuing operations excluded share-based compensation, E&O inventory write down, warehouse consolidation costs, amortization of purchased technology, transactional taxes assessments, amortization of intangible assets, restructuring charges, other nonrecurring income, and adjustment to reflect pro forma tax rate. Adjusted EBITDA was determined by excluding depreciation and amortization on property, plant and equipment, interest expense, provision for income taxes, and non-GAAP pre-tax adjustments, as set forth above, from the GAAP income from continuing operations. We believe that the presentation of these non-GAAP items provides meaningful supplemental information to investors, when viewed in conjunction with, and not in lieu of, our GAAP results. However, the non-GAAP financial measures have not been prepared under a comprehensive set of accounting rules or principles. Non-GAAP information should not be considered in isolation from, or as a substitute for, information prepared in accordance with GAAP. Moreover, there are material limitations associated with the use of non-GAAP financial measures.

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