logo
Plus   Neg
Share
Email

ARRIS Group Q1 Profit Down - Quick Facts

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT