Casa Systems: 3Q Earnings Snapshot
ANDOVER, Mass. (AP) _ Casa Systems Inc. (CASA) on Wednesday reported third-quarter profit of $18.9 million.
On a per-share basis, the Andover, Massachusetts-based company said it had profit of 21 cents. Earnings, adjusted for stock option expense, were 22 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The provider of digital cable video and broadband services posted revenue of $71.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $78.6 million.
Casa Systems expects full-year earnings in the range of 80 cents to 88 cents per share, with revenue in the range of $330 million to $350 million.
Casa Systems shares have fallen 11 percent since the beginning of the year.