Ruckus Wireless Inc. (RKUS) Monday reported a drop in first-quarter profit as higher operating costs masked a 27 percent growth in revenues.
Net income for the first quarter dropped to $0.3 million or breakeven per share from $3.7 million or $0.03 per share last year.
Adjusted net income declined to $2.9 million or $0.03 per share from $5.0 million or $0.07 per share last year.
Analysts polled by Thomson Reuters expected earnings of $0.04 per share on revenues of 63.27 million for the quarter. Analysts' estimates typically exclude special items.
Revenues for the first quarter grew 27 percent to $57.2 million from $45.0 million last year. Total operating costs increased to $38.6 million from $23.9 million last year.
Looking forward to the second quarter, the company expects adjusted income of $0.03 to $0.04 per share, and revenues of $61 million to $64 million.
Analysts currently estimate earnings of $0.04 per share on revenues of $67.10 million for the quarter.
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