Ubiquiti Inc. (UI) released a profit for its third quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $180.44 million, or $2.98 per share. This compares with $76.29 million, or $1.26 per share, last year.
Excluding items, Ubiquiti Inc. reported adjusted earnings of $181.83 million or $3.00 per share for the period.
Analysts on average had expected the company to earn $1.97 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 34.7% to $664.17 million from $493.00 million last year.
Ubiquiti Inc. earnings at a glance (GAAP) :
-Earnings: $180.44 Mln. vs. $76.29 Mln. last year.
-EPS: $2.98 vs. $1.26 last year.
-Revenue: $664.17 Mln vs. $493.00 Mln last year.
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