(RTTNews)  Ubiquiti Networks Inc. (UBNT) forecast second-quarter GAAP earnings in the range of $0.10 - $0.11 per share, non-GAAP earnings in the range of $0.24 - $0.25 per share, with revenues between $83 million and $86 million.

Net loss attributable to common stockholders for the latest quarter was $81.2 million or $1.30 per share, compared to a profit of $3.79 million or $0.06 per share in the prior year period.

First-quarter results included accretion of cost of preferred stock of $101.9 million, compared to $1.09 million incurred in the three months ended September 30, 2010.

On a non-GAAP basis, net income rose to $21.7 million or $0.23 per share from $7.69 million or $0.07 per share in the three months ended September 30, 2010.

Quarterly revenue grew 132% to $79.2 million from $34.1 million generated a year ago.

Gross Profit totaled $33 million, higher than the prior year's $13.6 million. Income from operations increased to $27.5 million from $9.47 million reported in the comparable quarter of last year.

by RTT Staff Writer

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