Ruckus Wireless Inc (NYSE:RKUS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 11.04%.
Ruckus Wireless Inc Earnings Cheat Sheet
Revenue: Rose 30.7% to $63.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.05 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $62.24 million.
Quoting Management: “We had a solid second quarter, achieving 30.6% year-over-year revenue growth and hitting the top end of our revenue guidance. In the quarter, our service provider business regained momentum with a record number of new wins and network expansion by existing customers. Our strong position in the carrier Wi-Fi market was validated by Infonetics’ Global Service Provider survey published in Q2, which found Ruckus to be the second most installed Wi-Fi brand and the number one brand being evaluated for 2014 deployments,” said Selina Lo, President and Chief Executive Officer at Ruckus Wireless. “Furthermore, our enterprise business continued to perform, adding over 2,900 new end-customers in the quarter.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased 66.67% from $0.03 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.05 to a profit $0.04. For the current year, the average estimate has moved down from a profit of $0.18 to a profit of $0.16 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)