3 unchanged sentences
There was no established trading market for shares of our common stock prior to January 29, 2007.
−Removed: According to the records of our transfer agent, as of August 20, 2021, there were 2,057 holders of record of our common stock.
+Added: According to the records of our transfer agent, as of September 2, 2022, there were 1,968 holders of record of our common stock.
Dividend Policy
8 unchanged sentences
Issuer Repurchases of Equity Securities
−Removed: In May 2018, our Board of Directors approved a stock repurchase program, which does not have an expiration date, for the repurchase of up to $7.5 million of our common stock.
−Removed: The stock repurchase program was suspended temporarily between February 2020 and February 2021.
−Removed: During fiscal 2021, our Board of Directors voted to re-instate our stock repurchase program and we repurchased 19,587 shares of our common stock in the open market for an aggregate purchase price, including commissions, of $0.8 million.
+Added: During the fourth quarter of fiscal 2022 we repurchased 25,967 shares of our common stock in the open market for an aggregate purchase price, including commissions, of $0.7 million.
These shares were recorded as treasury stock and we do not anticipate retiring them.
−Removed: Treasury stock did not participate in the two-for-one stock split in the form of a stock
−Removed: dividend paid on April 7, 2021.
−Removed: As of July 2, 2021, $2.6 million remained available for repurchases under our stock repurchase program.
+Added: In November 2021 our Board of Directors approved a stock repurchase program to purchase up to $10.0 million of our common stock.
+Added: As of July 1, 2022, $7.3 million remains available under the stock repurchase program, and we may choose to suspend or discontinue the repurchase program at any time.
+Added: Following is a summary of stock repurchases for the three months ended July 1, 2022:
Period Total Number of Shares Repurchased Average Price Paid per Share Total Number of Shares Repurchased as Part of Publicly Announced Program Approximate dollar Value of Shares that May Yet be Repurchased Under the Program (1)
1 unchanged sentence
April 2, 2022 through April 29, 2022 25,967 28.86 25,967 $ 7,260
−Removed: May 1, 2021 through May 28, 2021 11,287 $ 29.10 11,287 $ 2,627
+Added: April 30, 2022 through May 27, 2022 — — — $ 7,260
May 28, 2022 through July 1, 2022 — — — $ 7,260
−Removed: _______________________
−Removed: (1) In May 2018, our Board of Directors approved a stock repurchase program, which does not have an expiration date, for the repurchase of up to $7.5 million of our common stock.
+Added: (1) In November 2021, our Board of Directors approved a stock repurchase program, which does not have an expiration date, for the repurchase of up to $10.0 million of our common stock.
Performance Graph
12 unchanged sentences
____________________________
−Removed: * Assumes (i) $100 invested on July 1, 2016 in Aviat Networks, Inc.
+Added: * Assumes (i) $100 invested on June 30, 2017 in Aviat Networks, Inc.
common stock, the Total Return Index for The NASDAQ Composite Market (U.S.
1 unchanged sentence
and (ii) immediate reinvestment of all dividends.
−Removed: Selected Financial Data
−Removed: The following table summarizes our selected historical financial information for each of the last five fiscal years that has been derived from our consolidated financial statements.
−Removed: Data presented for fiscal years 2021, 2020 and 2019 are included elsewhere in this Annual Report on Form 10-K.
−Removed: This table should be read in conjunction with our other financial information, including “Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and notes, included elsewhere in this Annual Report on Form 10-K.
−Removed: Fiscal Year Ended
−Removed: (In thousands, except per share amounts) July 2, 2021 July 3, 2020 June 28, 2019 June 29, 2018 July 1, 2017
−Removed: Revenue from product sales and services $ 274,911 $ 238,642 $ 243,858 $ 242,506 $ 241,874
−Removed: Cost of product sales and services 172,296 153,946 164,588 162,003 166,402
−Removed: Income (loss) from continuing operations (1) (2)
−Removed: 110,139 257 9,738 2,302 (621)
−Removed: Net income (loss) (1), (2), (3)
−Removed: 110,139 257 9,738 2,302 (621)
−Removed: Net income attributable to noncontrolling interests, net of tax
−Removed: — — — 457 202
−Removed: Net income (loss) attributable to Aviat Networks 110,139 257 9,738 1,845 (823)
−Removed: Basic and diluted net income (loss) per common share (4) :
−Removed: Net income (loss) - basic $ 9.98 $ 0.02 $ 0.91 $ 0.17 $ (0.08)
−Removed: Net income (loss) - diluted $ 9.42 $ 0.02 $ 0.87 $ 0.16 $ (0.08)
−Removed: _______________________
−Removed: (1) Includes share-based compensation expense of $2.9 million, $1.7 million, $1.7 million, $2.4 million, and $2.1 million for fiscal 2021, 2020, 2019, 2018, and 2017, respectively.
−Removed: (2) Includes restructuring charges of $2.3 million, $4.0 million, $0.7 million, $1.3 million, and $0.6 million for fiscal 2021, 2020, 2019, 2018, and 2017, respectively.
−Removed: (3) Includes U.S.
−Removed: valuation allowance release of $92.2 million related to U.S.
−Removed: federal and state deferred tax assets for fiscal 2021.
−Removed: (4) On April 7, 2021, we effected a stock split in the form of a stock dividend of all of the outstanding shares of our common stock at a ratio of two-for-one (“Stock Split”).
−Removed: The authorized number of shares of 300 million and par value per share of our common stock of $0.01 per share remained unchanged after the Stock Split.
−Removed: (In thousands) July 2, 2021 July 3, 2020 June 28, 2019 June 29, 2018 July 1, 2017
−Removed: Total assets $ 297,653 $ 179,801 $ 169,193 $ 156,061 $ 152,576
−Removed: Long-term liabilities 17,949 17,150 15,466 12,077 12,218
−Removed: _______________________
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.