Monday, Starent Networks Corp. (STAR) said its third-quarter GAAP net income declined to $15.1 million or $0.20 per share from $19.6 million or $0.26 per share in the prior year period.
Non-GAAP net income for the quarter decreased to $19.2 million or $0.25 per share from $17.5 million or $0.24 per share in the year-ago period. On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share for the quarter.
Net revenues for the quarter grew to $86.0 million from $66.1 million in the comparable period. Eleven analysts estimated revenues of $82.38 million for the quarter.
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