Ruckus Wireless Inc (NYSE:RKUS) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 17.37%.
Ruckus Wireless Inc Earnings Cheat Sheet
Revenue: Decreased 0% to $57.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $63.27 million.
Quoting Management: “While we achieved a number of important milestones since our last earnings call, we are disappointed that our Q1 revenue came in below our guidance. During the quarter, we did not experience any material change in the competitive environment. Instead, revenue was impacted by delayed deployments by several service provider customers in the Americas, as well as challenging market conditions in China,” said, Selina Lo, President and Chief Executive Officer at Ruckus Wireless. “We continue to engage with customers on these delayed projects and we are encouraged by our progress. In April, we have already received orders from several of these service providers, but are finding that some other projects are taking longer to realize than we previously expected.”
Key Stats (on next page)…