Arris Group: 2Q Earnings Snapshot
Aug. 01, 2018
SUWANEE, Ga. (AP) _ Arris Group Inc. (ARRS) on Wednesday reported second-quarter profit of $35.8 million.
On a per-share basis, the Suwanee, Georgia-based company said it had net income of 19 cents. Earnings, adjusted for one-time gains and costs, were 72 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The communications technology company posted revenue of $1.73 billion in the period.
For the current quarter ending in October, Arris Group expects its per-share earnings to range from 65 cents to 70 cents.
The company said it expects revenue in the range of $1.68 billion to $1.73 billion for the fiscal third quarter.
Arris Group expects full-year earnings in the range of $2.85 to $3 per share, with revenue ranging from $6.85 billion to $7 billion.
Arris Group shares have declined nearly 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.99, a decrease of 12 percent in the last 12 months.