Arris Group Inc. (NASDAQ:ARRS) reported first-quarter 2016 results wherein adjusted (excluding special items) earnings per share of 41 cents outpaced the Zacks Consensus Estimate by 5 cents.
Quarterly total revenue stood at $1,614.4 million, up 32.9% year over year and also above the Zacks Consensus Estimate of $1,584 million.
Quarterly gross margin came in at 23.8% compared with 27.7% in the year-ago quarter. Operating loss, in the reported quarter, was $87.2 million against operating income of $45.7 million. Total order backlog, at the end of the quarter under review, was $1,335.1 million compared with $725.7 million at the end of the year-ago quarter. Meanwhile, the book-to-bill ratio stood at 1.24 compared with 1.08 in the prior-year quarter.
Arris consumed $224.8 million of cash from operations in the first quarter of 2016 compared with $63.3 million in the prior-year quarter. Quarterly free cash flow stood at a negative $233.4 million as against $74.1 million in the year-ago quarter. At the end of the first quarter, Arris had $676.3 million of cash & marketable securities on its balance sheet compared with $679.1 million at the end of 2015.
Arris currently carries a Zacks Rank #5 (Strong Sell). Better-ranked stocks in the same industry are Gigamon Inc. (NYSE:GIMO) , Knowles Corporation (NYSE:KN) and SeaChange International, Inc. (NASDAQ:SEAC) . All the three companies carry a Zacks Rank #2 (Buy).
ARRIS INTL PLC (ARRS): Free Stock Analysis Report
SEACHANGE INTL (SEAC): Free Stock Analysis Report
GIGAMON INC (GIMO): Free Stock Analysis Report
KNOWLES CORP (KN): Free Stock Analysis Report
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