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Arris trims losses though revenue falls short in Q1

Published 05/01/2018, 07:40 PM
Updated 05/01/2018, 07:40 PM
© Reuters.  Arris trims losses though revenue falls short in Q1
  • Arris Group (NASDAQ:ARRS) turned in a mixed report in Q1 earnings, substantially trimming its net loss but seeing revenues fall short of expectations.
  • Net loss on a GAAP basis was $0.07/share, vs. a year-ago loss of $0.21/share.
  • Adjusted net income was $0.73 vs. a year-ago $0.40, but down from Q4's $0.88.
  • Revenue, meanwhile, rose 6% Y/Y but fell 9% sequentially, to $1.578B.
  • Order backlog was $1.293B, down from a year-ago $1.304B but up from Q4's $1.121B. Book-to-fill ratio was 1.11, down from the prior-year 1.13 but up from Q4's 1.02.
  • Cash from operations was $96M (vs. a prior-year $250M); cash resources came to $543M at quarter's end.
  • It's guiding to revenues of $1.76B-$1.81B (vs. consensus for $1.785B), and adjusted net income per diluted share of $0.72-$0.77 (vs. consensus for $0.72).
  • Press release
  • Now read: Zendesk +7% on Q1 beats and upside guidance


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