Arris Group Inc. (NASDAQ:ARRS) delivered a profit and beat Wall Street’s expectations, BUT 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 0.84%.
Arris Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 31.58% to $0.25 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 16.77% to $353.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Arris Group Inc. reported adjusted EPS income of $0.25 per share. By that measure, the company beat the mean analyst estimate of $0.24. It missed the average revenue estimate of $355.88 million.
Quoting Management: “Our record first quarter revenues reflect the culmination of a decade of growth during which ARRIS revenues have tripled. I am looking forward to continued growth now that we have closed our acquisition of Motorola Home. We welcome all of our new employees to the ARRIS team. The combination will be very powerful for our customers and shareholders,” said Bob Stanzione, ARRIS Chairman and CEO.
Key Stats (on next page)…
Revenue increased 2.82% from $344 million in the previous quarter. EPS decreased 10.71% from $0.28 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.28 and has not changed. For the current year, the average estimate has moved up from a profit of $1.20 to a profit of $1.22 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)