ARRIS Group Inc. (ARRS) announced preliminary and unaudited financial results for the first quarter 2012. GAAP net income in the first quarter 2012 was $5.80 million or $0.05 per share, compared to $11.56 million or $0.09 per share in the year ago quarter.
Adjusted net income in the first quarter 2012 was $0.19 per share, compared to $0.16 per diluted share for the first quarter 2011.
Revenues in the first quarter 2012 were $302.9 million as compared to first quarter 2011 revenues of $267.4 million.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.15 per share on revenues of $296.35 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter 2012, the company now project that revenues will be in the range of $330 to $350 million, with adjusted net income per share in the range of $0.20 to $0.24 and GAAP net income per share in the range of $0.10 to $0.14.
Analysts expect the company to report earnings of $0.20 per share on revenues of $312.32 million for the second-quarter.
by RTT Staff Writer
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