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Arris reports revenue drop, remains on target
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Arris reported an 8% year-on-year drop in first quarter revenues, but said that it remains on track to achieve its full year targets.
For the three months ended March 31, Arris reported revenues of US$1.48 billion (€1.36 billion) – a sequential decline of 16%.
For the quarter it made a GAAP net loss of US$39 million, compared to a net loss of US$203 million.
“We had a solid finish to Q1 on good order flow and shipments. We expect the key technology trends that underpin our business – fiber deep, DOCSIS 3.1, advanced wireless home networking, and 4K video – to gain momentum and result in second-half growth,” said Arris CEO Bruce McClelland.
“With respect to the second quarter 2017, we expect revenues will be in the range of US$1.64 billion to US$1.69 billion, GAAP net income per diluted share in the range of US$0.02 to US$0.07, and adjusted net income per diluted share in the range of US$0.55 to US$0.60.”
“We are making great progress with integration planning for our upcoming Ruckus Networks acquisition, and continue to work towards a third quarter close.”
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