Arris' Q2 net slips a bit

Thu, 07/29/2010 - 8:35am
Brian Santo

Arris Group reported second-quarter revenue of $280.4 million, up approximately $1.9 million from the similar period a year ago, and up $13.7 million sequentially.

Net income was down, from $22.9 million in the second quarter a year ago to $19.97 million in the Q2 just closed.

The company said that order backlog at the end of the second quarter of 2010 was $174.1 million. That's up from last year in the similar quarter, when backlog was $165.7 million, but down sequentially from the immediately preceding first quarter, when backlog was $195.1 million.

"The second quarter closed in line with our expectations, and I continue to believe that we are well-positioned for long-term growth," said Bob Stanzione, Arris' chairman and CEO. "I am particularly encouraged by our progress related to future products that will enable hybrid and full-IP video architectures that our customers are now exploring."

Looking ahead, David Potts, Arris' executive vice president and CFO, said, "We now project that third-quarter 2010 revenues for the company will be in the range of $270 to $290 million, with adjusted net income per diluted share in the range of $0.16 to $0.20 and GAAP net income per diluted share in the range of $0.07 to $0.11."

He added: "We are projecting accelerating DOCSIS 3.0 EMTA deployments. At the same time, we anticipate some change in mix, in particular a modest decline in our CMTS revenue."

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