ARRIS claims 'outstanding' 2014
DetailsEditor | 19 February 2015
Gaining momentum as its own entity following a spate of acquisitions a year ago, ARRIS has announced that 2014 was a particularly strong year for its range of IP, video and broadband technology.
ARRRISFor the fourth quarter of the year ended 31 December 2014, ARRIS posted revenues of $1.263.4 billion, up 5.33% year-on-year, driving a net income of $192.761 million, representing a huge turnaround from a $2.817 million loss for the same period in 2013.
For the full year, the revenues soared 47% to $5.323 billion, powered a net income for the year of $327 million. At the end of 2013 the company registered a $48.76 million loss.
The company also ended 2014 with $697.4 million of cash resources and an order backlog worth $631.0 million.
"2014 was an outstanding year for ARRIS. We grew our revenues to over $5.3 billion, introduced several key products, made significant market share gains, and achieved important design wins scheduled for launch later in 2015," said Bob Stanzione, ARRIS chairman and CEO. "I look forward to increasing momentum in 2015 as the year progresses and the pending industry transactions are completed."
In the next few months ARRIS will add Net2TV Corp's streaming television service, Portico TV, to its over-the-top (OTT) content library. "Net2TV furthers the variety of programming our operators can offer, giving them a competitive advantage in vying for the consumers' business," explained Ron Miller, vice president of product management for consumer solutions at ARRIS. "Net2TV's Portico TV broadens the content mix of existing whole-home solution deployments, offering subscribers access to a variety of engaging, on-demand content from leading programme providers."