ARRIS paints a picture of a bright 2015
DetailsJoseph O'Halloran | 30 April 2015
After a quarter that has seen the acquisition of rivals and major partnerships with enabling broadcast technology firms, ARRIS is claiming a solid start to fiscal 2015.
ARRRISFor the three-month period ending 31 March 2015, ARRIS has announced preliminary and unaudited financial results showing revenues of $1.215.2 billion, down $9.8 million, or 1%, as compared with first quarter 2014 revenues. First quarter revenues were also down $48.2 million, or 4%, as compared with the fourth quarter of 2014.
Adjusted net income on a non-GAAP measure was $0.44 per diluted share, with end-of-quarter cash resources at $631.6 million and an order backlog of $725.7 million.
Despite the dipping Q1 revenues, ARRIS was well placed for the rest of the year asserted ARRIS Chairman and CEO Bob Stanzione. " Our first quarter came in line with our expectations, and we are executing on key elements of our strategy," he said. "Notably, we are expanding our product offerings, scale and international reach with the pending acquisitions of both Pace and Active Video Networks. With respect to the second quarter 2015, we expect revenues will grow and will be in the range of $1,270 million to $1,310 million, with adjusted net income per diluted share in the range of $0.53 to $0.58 and GAAP net income per diluted share in the range of $0.17 to $0.22."