Technology
Ceragon Reports 20% Growth in the Fourth Quarter of 2023; Exceeds Full-Year 2023 Guidance
Published
7 months agoon
By
Company Guides for Double Digit Growth; Targeting to Further Penetrate Private Network Markets
ROSH HA’AIN, Israel, Feb. 20, 2024 /PRNewswire/ — Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the fourth quarter and full year period ended December 31, 2023.
Q4 2023 Financial Highlights:
Revenues of $90.4 million, up 20% year-over-yearSiklu acquisition, which closed on December 4, 2023, contributed modestly to quarterly revenue, in-line with expectationsOperating income of $4.2 million on a GAAP basis, or $7.8 million on a non-GAAP basisNet loss of $(1.2) million on a GAAP basis, and net income of $3.7 million on a non-GAAP basisEPS of $(0.01) per diluted share on a GAAP basis, or $0.04 per diluted share on a non-GAAP basis
FY 2023 Financial Highlights:
Revenues of $347.2 million, up 18% year-over-year, exceeding full-year guidanceCeragon would have achieved the higher-end of its full-year revenue guidance even without contribution from SikluOperating income of $21.2 million on a GAAP basis, or a record $29.0 million on a non-GAAP basisNet income of $6.2 million on a GAAP basis, and $16.7 million on a non-GAAP basisEPS of $0.07 per diluted share on a GAAP basis, or $0.20 per diluted share on a non-GAAP basis
Q4 2023 Business Highlights:
Completed the acquisition of Siklu, expanding presence in North America and augmenting Ceragon’s offering in the Fixed Wireless Access marketNorth America:Continued strong bookings, supported by demand for 5G capabilities from Tier-1 customers and increased footprint with private network customersFourth consecutive quarter of revenues exceeding $20 millionIndia:Continued strong bookings, including initial orders from the approximately $150 million project from global integrator, in support of a network modernization project for a Tier 1 OperatorStrongest region in terms of revenue, with record quarterly revenue since Q2 2018
Doron Arazi, CEO, commented: “Ceragon delivered revenue growth that exceeded our full-year outlook and record full-year non-GAAP operating income. We are encouraged with the recent acquisition of Siklu bolstering our position in the fastest-growing verticals of our market, and continued strong demand for our solutions. In our two key markets, North America and India, we continue to experience strong demand and we remain optimistic that these markets will continue to drive our growth. During 2023, we expanded our presence in the private network market, establishing a scalable foundation for continued growth.”
“We have also reached the point where we can unlock meaningful operating leverage,” continued Arazi. “Our non-GAAP gross margins in the quarter exceeded 35%, and we delivered record levels of annual non-GAAP operating profit. Ceragon has also generated significant full-year free cash flow, enabling us to continue enhancing our product portfolio while growing our profitability.”
Primary Fourth Quarter 2023 Financial Results:
Revenues were $90.4 million, up 20% from $75.5 million in Q4 2022 and up 3.6% from $87.3 million in Q3 2023.
Gross profit was $31.1 million, giving us a gross margin of 34.4%, compared to gross margin of 32.5% in Q4 2022 and 34.7% in Q3 2023.
Operating income was $4.2 million compared to $(10.6) million for Q4 2022 and $6.7 million for Q3 2023. The fourth quarter of 2023 included expenses related to the acquisition of Siklu and the consolidation of Siklu results since closing on December 4, 2023.
Net income (loss) was $(1.2) million, or $(0.01) per diluted share, compared to $(15.0) million, or $(0.18) per diluted share for Q4 2022 and $3.4 million, or $0.04 per diluted share for Q3 2023.
Non-GAAP results were as follows: Gross margin was 35.1%, operating profit was $7.8 million, and net income of $3.7 million, or $0.04 per diluted share. Management continues to expect Siklu to be accretive to non-GAAP earnings by the second-half of 2024.
Primary Full-Year 2023 unaudited Financial Results:
Revenues were $347.2 million, up 18% from $295.2 million in 2022.
Gross profit was $119.9 million, giving us a gross margin of 34.5%, compared to a gross margin of 31.5% in 2022.
Operating income (loss) was $21.2 million compared to $(10.9) million for 2022.
Net income (loss) was $6.2 million, or $0.07 per diluted share, compared to $(19.7) million, or $(0.23) per diluted share for 2022.
Non-GAAP results were as follows: Gross margin was 34.8%, operating profit was $29.0 million, and net income was $16.7 million, or $0.20 per diluted share.
Balance Sheet
Cash and cash equivalents were $28.2 million at December 31, 2023, compared to $22.9 million at December 31, 2022.
For a reconciliation of GAAP to non-GAAP results, see the attached tables.
Revenue Breakout by Geography:
Q4 2023
India
34 %
North America
27 %
Latin America
13 %
Europe
11 %
Africa
8 %
APAC
7 %
Outlook
For 2024, management expects:
Revenue of $385 million to $405 million, representing growth of 11% to 17% compared to 2023 revenue. This guidance includes the contribution from Siklu, which was acquired in December 2023.Non-GAAP operating margins are targeted to be at least 10% at the mid-point of the revenue guidance.As a result, management expects increased non-GAAP profit and positive free cash flow for the full year of 2024.
Conference Call
The Company will host a Zoom web conference today at 8:30 a.m. ET to discuss the results, followed by a question-and-answer session for the investment community.
Investors are invited to register by clicking here. All relevant information will be sent upon registration.
If you are unable to join the live call, a replay will be available on our website at www.ceragon.com within 24 hours after the call.
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers’ quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.
Ceragon’s unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information please visit: www.ceragon.com.
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned are owned by their respective holders.
Safe Harbor
This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon’s management about Ceragon’s business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability; growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as “may”, “plans”, “anticipates”, “believes”, “estimates”, “targets”, “expects”, “intends”, “potential” or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations therefrom will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon’s future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the effects of global economic trends, including recession, rising inflation, rising interest rates, commodity price increases and fluctuations, commodity shortages and exposure to economic slowdown; The effects of the evolving nature of the war situation in Israel, including in Gaza with the Hamas and in Lebanon with the Hezbollah and the related evolving regional conflict, including without limitation, the Houti attacks on marine vessels; risks associated with delays in the transition to 5G technologies and in the 5G rollout; the risks associated with the introduction of new products to the market, including but not limited to potential delays, unexpected costs, regulatory hurdles and potential technical flaws; risks relating to the concentration of our business on a limited number of large mobile operators and the fact that the significant weight of their ordering, compared to the overall ordering by other customers, coupled with inconsistent ordering patterns, could negatively affect us; risks resulting from the volatility in our revenues, margins and working capital needs; disagreements with tax authorities regarding tax positions that we have taken could result in increased tax liabilities; the high volatility in the supply needs of our customers, which from time to time lead to delivery issues and may lead to us being unable to timely fulfill our customer commitments; risks associated with inaccurate forecasts or business changes, which may expose us to inventory-related losses on inventory purchased by our contract manufacturers and other suppliers, to increased expenses should unexpected production ramp up be required, or to write off to parts of our inventory, which would increase our cost of revenues; potential adverse reactions or changes to business relationships resulting from the completion of the transaction with Siklu, and ongoing or potential litigations or disputes, incidental to the conduct of Siklu’s business and other risks related to the integration of Siklu’s business into Ceragon business; disagreements with tax authorities regarding tax positions that we have taken could result in increased tax liabilities and such other risks, uncertainties and other factors that could affect our results of operation, as further detailed in Ceragon’s most recent Annual Report on Form 20-F, as published on May 1, 2023, as well as other documents that may be subsequently filed by Ceragon from time to time with the SEC.
We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Ceragon does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.
While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Ceragon’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Ceragon does not assume any obligation to update any forward-looking statements unless required by law.
The results reported in this press-release are preliminary and unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors.
Ceragon’s public filings are available on the Securities and Exchange Commission’s website at www.sec.gov and may also be obtained from Ceragon’s website at www.ceragon.com.
Ceragon Investor & Media Contact:
Rob Fink
FNK IR
Tel. 1+646-809-4048
crnt@fnkir.com
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, U.S. dollars in thousands, except share and per share data)
(Unaudited)
Three months ended
December 31,
Year ended
December 31,
2023
2022
2023
2022
Revenues
$ 90,359
$ 75,531
$ 347,179
$ 295,173
Cost of revenues
59,296
50,999
227,310
202,110
Gross profit
31,063
24,532
119,869
93,063
Operating expenses:
Research and development, net
9,070
8,080
32,274
29,690
Sales and Marketing
10,544
8,998
40,577
35,795
General and administrative
6,445
17,826
23,793
34,295
Restructuring and related charges
–
–
897
–
Acquisition and integration-related charges
835
–
1,118
–
Other operating expenses (*)
–
249
–
4,220
Total operating expenses
26,894
35,153
98,659
104,000
Operating income (loss)
4,169
(10,621)
21,210
(10,937)
Financial expenses and others, net
3,402
3,012
8,468
6,306
Income (loss) before taxes
767
(13,633)
12,742
(17,243)
Taxes on income
1,970
1,385
6,522
2,446
Net income (loss)
$ (1,203)
$ (15,018)
$ 6,220
$ (19,689)
Basic net income (loss) per share
$ (0.01)
$ (0.18)
$ 0.07
$ (0.23)
Weighted average number of shares used in computing basic net income (loss) per share
85,054,173
84,347,548
84,617,774
84,132,982
Diluted net income (loss) per share
$ (0.01)
$ (0.18)
$ 0.07
$ (0.23)
Weighted average number of shares used in computing diluted net income (loss) per share
85,054,173
84,347,548
85,482,626
84,132,982
(*) Hostile attempt related costs.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
December 31,
2023
December 31,
2022
ASSETS
Unaudited
Audited
CURRENT ASSETS:
Cash and cash equivalents
$ 28,237
$ 22,948
Trade receivables, net
104,321
100,034
Other accounts receivable and prepaid expenses
16,571
15,756
Inventories
68,811
72,009
Total current assets
217,940
210,747
NON-CURRENT ASSETS:
Severance pay and pension fund
4,985
4,633
Property and equipment, net
30,659
29,456
Operating lease right-of-use assets
18,837
17,962
Intangible assets, net
16,401
8,208
Goodwill
7,749
–
Other non-current assets
1,954
18,312
Total non-current assets
80,585
78,571
Total assets
$ 298,525
$ 289,318
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Trade payables
67,032
67,384
Deferred revenues
5,507
3,343
Short-term loans
32,600
37,500
Operating lease liabilities
3,889
3,745
Other accounts payable and accrued expenses
23,925
20,864
Total current liabilities
132,953
132,836
LONG-TERM LIABILITIES:
Accrued severance pay and pension
9,399
9,314
Deferred revenues
670
11,545
Other long-term payables
7,768
2,653
Operating lease liabilities
13,716
13,187
Total long-term liabilities
31,553
36,699
SHAREHOLDERS’ EQUITY:
Share capital:
Ordinary shares
222
224
Additional paid-in capital
437,161
432,214
Treasury shares at cost
(20,091)
(20,091)
Other comprehensive loss
(8,085)
(11,156)
Accumulated deficit
(275,188)
(281,408)
Total shareholders’ equity
134,019
119,783
Total liabilities and shareholders’ equity
$ 298,525
$ 289,318
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited, U.S. dollars, in thousands)
(Unaudited)
Three months ended
December 31,
Year ended
December 31,
2023
2022
2023
2022
Cash flow from operating activities:
Net income (loss)
$ (1,203)
$ (15,018)
$ 6,220
$ (19,689)
Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:
Depreciation and amortization
2,466
2,622
9,967
11,040
Loss from sale of property and equipment, net
–
–
61
20
Stock-based compensation expense
938
958
3,964
3,560
Increase (decrease) in accrued severance pay and pensions, net
88
245
(267)
(445)
Decrease (increase) in trade receivables, net
1,856
15,942
(2,370)
18,428
Decrease (increase) in other accounts receivable and prepaid
expenses (including other long term assets)
15,085
1,414
16,994
(345)
Decrease (increase) in inventory
4,681
(7,845)
6,303
(11,155)
Decrease in operating lease right-of-use assets
794
845
3,781
3,571
Increase in trade payables
(1,121)
(5,191)
(1,847)
(2,018)
Increase (decrease) in other accounts payable and accrued
expenses (including other long term liabilities)
(2,720)
(2,190)
1,677
(4,154)
Decrease in operating lease liability
(73)
(779)
(4,034)
(5,937)
Increase (decrease) in deferred revenues
(9,830)
494
(9,562)
2,229
Net cash provided by (used in) operating activities
$ 10,961
$ (8,503)
$ 30,887
$ (4,895)
Cash flow from investing activities:
Purchases of property and equipment, net
(2,548)
(1,432)
(9,955)
(10,464)
Purchases of intangible assets
(661)
(697)
(2,944)
(1,957)
Payments made in connection with business acquisitions, net
of acquired cash
(7,971)
–
(7,971)
–
Net cash used in investing activities
$ (11,180)
$ (2,129)
$ (20,870)
$ (12,421)
Cash flow from financing activities:
Proceeds from exercise of options
9
–
39
410
Proceeds from (repayments of) bank credits and loans, net
(5,600)
7,600
(4,900)
22,700
Net cash provided by (used in) financing activities
$ (5,591)
$ 7,600
$ (4,861)
$ 23,110
Translation adjustments on cash and cash equivalents
$ 81
$ 16
$ 133
$ 75
Increase (decrease) in cash and cash equivalents
$ (5,729)
$ (3,016)
$ 5,289
$ 5,869
Cash and cash equivalents at the beginning of the period
33,966
25,964
22,948
17,079
Cash and cash equivalents at the end of the period
$ 28,237
$ 22,948
$ 28,237
$ 22,948
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data
(Unaudited)
Three months ended
Year ended
December 31,
December 31,
2023
2022
2023
2022
GAAP cost of revenues
$
59,296
$
50,999
$
227,310
$
202,110
Stock-based compensation expenses
(115)
(169)
(482)
(587)
Changes in indirect tax positions
–
(279)
(3)
(281)
Amortization of acquired intangible assets
(57)
–
(57)
–
Excess cost on acquired inventory in business combination*
(525)
–
(525)
–
Non-GAAP cost of revenues
$
58,599
$
50,551
$
226,243
$
201,242
GAAP gross profit
$
31,063
$
24,532
$
119,869
$
93,063
Stock-based compensation expenses
115
169
482
587
Changes in indirect tax positions
–
279
3
281
Amortization of acquired intangible assets
57
–
57
–
Excess cost on acquired inventory in business combination
525
–
525
–
Non-GAAP gross profit
$
31,760
$
24,980
$
120,936
$
93,931
GAAP Research and development expenses
$
9,070
$
8,080
$
32,274
$
29,690
Stock-based compensation expenses
(156)
(217)
(828)
(405)
Loss from termination of joint development agreement
(1,199)
–
(1,199)
–
Non-GAAP Research and development expenses
$
7,715
$
7,863
$
30,247
$
29,285
GAAP Sales and Marketing expenses
$
10,544
$
8,998
$
40,577
$
35,795
Stock-based compensation expenses
(320)
(393)
(1,416)
(1,355)
Amortization of acquired intangible assets
(49)
–
(49)
–
Non-GAAP Sales and Marketing expenses
$
10,175
$
8,605
$
39,112
$
34,440
GAAP General and Administrative expenses
$
6,445
$
17,826
$
23,793
$
34,295
Stock-based compensation expenses
(347)
(179)
(1,238)
(1,213)
Retired CEO compensation
–
–
–
96
Non-GAAP General and Administrative expenses
$
6,098
$
17,647
$
22,555
$
33,178
GAAP Restructuring and related charges
$
–
$
–
$
897
$
–
Restructuring and related charges
–
–
(897)
–
Non-GAAP restructuring and related charges
$
–
$ –
$ –
$ –
GAAP Acquisition and integration-related charges
$
835
$
–
$
1,118
$
–
Acquisition and integration-related
(835)
–
(1,118)
–
Non-GAAP acquisition and integration-related charges
$
–
$ –
$ –
$ –
GAAP Other operating expenses
$
–
$
249
$
–
$
4,220
Hostile attempt related costs
–
(249)
–
(4,220)
Non-GAAP other operating expenses
$
–
$ –
$ –
$ –
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data
(Unaudited)
Three months ended
Year Ended
December 31,
December 31,
2023
2022
2023
2022
GAAP operating income (loss)
$
4,169
$
(10,621)
$
21,210
$
(10,937)
Stock-based compensation expenses
938
958
3,964
3,560
Changes in indirect tax positions
–
279
3
281
Amortization of acquired intangible assets
106
–
106
–
Excess cost on acquired inventory in business combination*
525
–
525
–
Loss from termination of joint development agreement
1,199
–
1,199
–
Retired CEO compensation
–
–
–
(96)
Hostile attempt related costs
–
249
–
4,220
Restructuring and other charges
–
–
897
–
Acquisition and integration-related charges
835
–
1,118
–
Non-GAAP operating income (loss)
$
7,772
$
(9,135)
$
29,022
$
(2,972)
GAAP financial expenses and others, net
$
3,402
$
3,012
$
8,468
$
6,306
Non-cash revaluation associated with acquisition
(110)
–
(110)
–
Leases – financial income (expenses)
(754)
(154)
253
2,278
Non-GAAP financial expenses & others, net
$
2,538
$
2,858
$
8,611
$
8,584
GAAP Tax expenses
$
1,970
$
1,385
$
6,522
$
2,446
Non–cash tax adjustments
(478)
(851)
(2,851)
(1,278)
Non-GAAP Tax expenses
$
1,492
$
534
$
3,671
$
1,168
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data
(Unaudited)
Three months ended
Year Ended
December 31,
December 31,
2023
2022
2023
2022
GAAP net income (loss)
$
(1,203)
$
(15,018)
$
6,220
$
(19,689)
Stock-based compensation expenses
938
958
3,964
3,560
Changes in indirect tax positions
–
279
3
281
Amortization of acquired intangible assets
106
–
106
–
Excess cost on acquired inventory in business combination*
525
–
525
–
Loss from termination of joint development agreement
1,199
–
1,199
–
Retired CEO compensation
–
–
–
(96)
Hostile attempt related costs
–
249
–
4,220
Restructuring and other charges
–
–
897
–
Acquisition and integration-related charges
835
–
1,118
–
Non-cash revaluation associated with acquisition
110
–
110
–
Non-cash tax adjustments
478
851
2,851
1,278
Leases – financial income (expenses)
754
154
(253)
(2,278)
Non-GAAP net income (loss)
$
3,742
$
(12,527)
$
16,740
$
(12,724)
GAAP Basic net income (loss) per share
$
(0.01)
$
(0.18)
$
0.07
$
(0.23)
GAAP Diluted net income (loss) per share
$
(0.01)
$
(0.18)
$
0.07
$
(0.23)
Non GAAP Diluted net income (loss) per share (**)
$
0.04
$
(0.15)
$
0.20
$
(0.15)
(*) Consists of charges to cost of revenues for the difference between the fair value of acquired inventory in business combination, which was recorded at fair value, and the actual cost of this inventory, which impacts the Company’s gross profit.
(**) Weighted average number of shares used in computing diluted net income (loss) per share is the same as in GAAP
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SOURCE Ceragon Networks Ltd.
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SHANGHAI, Sept. 21, 2024 /CNW/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.
With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.
The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:
Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.
To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.
As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.
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SOURCE Huawei
Technology
HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era
Published
2 hours agoon
September 21, 2024By
SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.
In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:
One Map for Intelligent O&M: Zero Management Concerns
Huawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.
One Network for Diverse Computing: Zero Service Interruptions
The Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.
One Platform for Simplified Deployment: Zero Configuration Errors
By employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.
Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.
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SOURCE Huawei
Technology
Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif
Published
5 hours agoon
September 21, 2024By
NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.
On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.
As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”
Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.
Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt.
Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.
“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.
We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.
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SOURCE Education Cannot Wait
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