Arris Group Inc. (ARRS) announced preliminary results of its third quarter, reporting net income of $21.70 million or $0.17 per share, compared to $22.43 million or $0.16 per share in the year-ago quarter.
Adjusted net income for the third quarter 2009 was $31.97 million or $0.25 per share, compared to $30.69 million $0.24 per share for the third quarter of 2008.
Net sales for the quarter was $275.77 million, compared to $297.55 million in the prior-year quarter.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.24 per share, on revenues of $273.81 million for the quarter. Analysts estimates typically exclude special items.
Looking ahead, for the fourth quarter, the company expects earnings of $0.13 - $0.17 per share and adjusted earnings of $0.22 - $0.26 per share.
Analysts currently expect earnings of $0.23 per share for the fourth quarter.
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