Light Reading

Arris Posts Higher Than Expected Gains

Light Reading
News Wire Feed
Light Reading
2/24/2014
50%
50%

SUWANEE, Ga. -- ARRIS Group, Inc. (NASDAQ: ARRS) today announced preliminary and unaudited financial results for the fourth quarter and full year 2013.

On April 17, 2013, the Company closed the acquisition of Motorola Home. As a result, comparisons to prior periods may not be meaningful.

Financial Highlights

  • Revenues in the fourth quarter 2013 were $1,199.1 million
  • Adjusted net income (a non-GAAP measure) in the fourth quarter 2013 was $0.54 per diluted share
  • GAAP net loss in the fourth quarter 2013 was $(0.02) per diluted share
  • The Company repaid $372.8 million of debt in the fourth quarter
  • The Company ended the fourth quarter 2013 with $513.4 million of cash resources
  • Order backlog at the end of the fourth quarter 2013 was $538.6 million
  • The Company's book-to-bill ratio in the fourth quarter 2013 was 1.01

    "We had a great fourth quarter and made remarkable progress in 2013. As a result of our successful acquisition and integration of Motorola Home, we are a larger, stronger and much more relevant supplier to a growing worldwide customer community. Moreover, 2014 is looking to be our best year ever." said Bob Stanzione, ARRIS Chairman and CEO. "Our fourth quarter results were strong. Our revenues were up 12% from the third quarter, largely as a result of new product introductions, and we had strong cash generation. Also, in the quarter, we retired our remaining convertible notes for $232 millionand repaid $141 million of our term loan debt, including a $125 million optional prepayment," said David Potts, ARRIS EVP & CFO. "With respect to the first quarter 2014, we now project that revenues for the Company will be in the range of $1,170 to $1,210 million, with adjusted net income per diluted share in the range of $0.42 to $0.47 and GAAP net income per diluted share in the range of $0.05 to $0.10."

    Revenues in the fourth quarter 2013 were $1,199.1 million as compared to fourth quarter 2012 revenues of $344.0 million. Third quarter 2013 revenues were $1,067.8 million.

    For the full year 2013 and 2012, revenues were $3,620.9 million and $1,353.7 million, respectively. 2013 revenues include the revenues of Motorola Home following the closing of the acquisition on April 17, 2013.

    Adjusted net income (a non-GAAP measure) in the fourth quarter 2013 was $0.54 per diluted share, compared to $0.28 per diluted share for the fourth quarter 2012. Adjusted net income (a non-GAAP measure) for the third quarter 2013 was $0.39 per diluted share.

    Year to date, adjusted net income was $1.66 per diluted share for 2013 as compared to $0.93 per diluted share in 2012. 2013 excludes the adjusted net income of Motorola Home prior to April 17, 2013. A reconciliation of adjusted net income to GAAP net income per diluted share is attached to this release and also can be found on the Company's website (www.arrisi.com).

    GAAP net loss in the fourth quarter 2013 was $(0.02) per diluted share, as compared to fourth quarter 2012 GAAP net income of $0.13 per diluted share and third quarter 2013 GAAP net income of $0.12 per diluted share. Year to date, GAAP net loss was$(0.37) per diluted share in 2013 as compared to GAAP net income of $0.46 per diluted share in 2012. 2013 includes the net income of Motorola Home following the closing of the acquisition on April 17, 2013.

    Arris Group Inc. (Nasdaq: ARRS)

    (0)  | 
    Comment  | 
    Print  | 
  • Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
    From The Founder
    Against the odds, Huawei is growing its telecoms networking equipment business in the US -- that should be ringing some alarm bells for domestic vendors.
    Flash Poll
    Live Streaming Video
    CLOUD / MANAGED SERVICES: Prepping Ethernet for the Cloud
    Moderator: Ray LeMaistre Panelists: Jeremy Bye, Leonard Sheahan
    Between the CEOs
    Metaswitch's New CEO Martin Lund Discusses His Role

    9|2|15   |   11:27   |   (2) comments


    Technology industry veteran Martin Lund joins Metaswitch Networks this week as the company's new CEO. In this interview, Lund discusses his new role and the industry's progress with Light Reading CEO Steve Saunders. Lund believes that the industry disruption caused by SDN and NFV is creating opportunities for companies like Metaswitch – network software providers ...
    Telecom Innovators Video Showcase
    Nominum on Leveraging the Power of DNS to Deliver Superior Subscriber Experiences

    9|2|15   |   07:13   |   (0) comments


    Nominum CEO Gary Messiana talks about the challenges service providers face in competing for a much more sophisticated customer, a customer that has heightened expectations for more personalized and compelling digital experiences. Providers are focusing their efforts on delivering higher value subscriber services, retaining their existing customers and increasing ...
    Between the CEOs
    CEO Chat With Jeff Miller, ActiveVideo

    8|28|15   |   19:05   |   (0) comments


    Jeff Miller, President and CEO of ActiveVideo, talks to Light Reading founder and CEO Steve Saunders about the impact of virtualization on the TV and video distribution market.
    LRTV Huawei Video Resource Center
    Vodafone: Mobile Money Is About Customer Trust

    8|27|15   |   06.36   |   (0) comments


    Light Reading spoke with Vodafone's Ian Ravenscroft about the unique responsibilities and opportunities facing operators handling customers' financial transactions over the network.
    Telecom Innovators Video Showcase
    Palo Alto Networks on Expanding in the Carrier/Service Provider Market

    8|26|15   |   07:54   |   (0) comments


    Alfred Lee from Palo Alto Networks tells Steve Saunders about their new chassis-based system, the PA-7080, and how it can benefit service providers compared to legacy firewalls.
    LRTV Custom TV
    Global Services Forum Preview

    8|25|15   |   02:36   |   (0) comments


    Light Reading's CEO and Founder Steve Saunders talks about Huawei's upcoming Global Services Forum with the help of Heavy Reading's Patrick Donegan and Teresa Mastrangelo.
    Telecom Innovators Video Showcase
    Infoblox on DNS Threat Index

    8|19|15   |   04:39   |   (0) comments


    Dilip Pillaipakam from Infoblox talks to Steve Saunders about his company's core network services.
    Between the CEOs
    CEO Chat With Ihab Tarazi, Equinix

    8|14|15   |   20:18   |   (1) comment


    Equinix CTO Ihab Tarazi talks to Light Reading founder and CEO Steve Saunders about the dramatic changes in the data center, cloud and interconnect markets and discusses the impact of SDN and NFV in the coming years.
    Telecom Innovators Video Showcase
    The Netformx Ecosystem

    8|14|15   |   09:39   |   (1) comment


    Ittai Bareket, CEO of Netformx, talks with Steve Saunders about the Netformx Ecosystem, which employs cutting-edge prescriptive analytics to help solution providers maximize profits.
    Telecom Innovators Video Showcase
    Versa Networks on Leveraging VNFs

    8|12|15   |   07:37   |   (0) comments


    Kumar Mehta, founder and CEO of stealth mode startup Versa Networks, talks with Steve Saunders about how providers can best leverage virtualized network functions (VNFs).
    LRTV Custom TV
    Transforming the Network Through OPNFV

    8|5|15   |   7:09   |   (0) comments


    Sandra Rivera, VP Data Center Group; GM Network Platforms Group, Intel Corporation, on OPNFV Arno and how the industry is coming together to accelerate the deployment of NFV and transform the network.
    LRTV Huawei Video Resource Center
    Huawei ONS Product Demo

    8|3|15   |   6:01   |   (0) comments


    Huawei shows at Open Networking Summit 2015 in Santa Clara how its SDN and NFV solutions embrace openness.
    Upcoming Live Events
    September 16-17, 2015, The Westin Galleria Dallas, Dallas, TX
    September 16, 2015, The Westin Galleria Dallas, Dallas, TX
    September 16, 2015, The Westin Galleria Dallas, Dallas, TX
    September 29-30, 2015, The Westin Grand Müchen, Munich, Germany
    October 14-15, 2015, New Orleans Ernest N. Morial Convention Center, New Orleans, LA
    November 5, 2015, Hilton Santa Clara, Santa Clara, CA
    November 17, 2015, Santa Clara, California
    December 1, 2015, The Westin Times Square, New York City
    December 2, 2015, The Westin Times Square, New York City
    All Upcoming Live Events
    Infographics
    Cisco's cloud and virtualization portfolio can increase business agility and innovation by building a more flexible network architecture.
    Hot Topics
    T-Mobile CEO Plays Data Traffic Cop
    Sarah Thomas, Editorial Operations Director, 8/31/2015
    CEO Chat With Bill Gates
    Steve Saunders, CEO and founder, Light Reading, 8/31/2015
    Time to Monetize Cable WiFi
    Alan Breznick, Cable/Video Practice Leader, 8/31/2015
    New Apple TV: More $$, Not Content – Report
    Mari Silbey, Senior Editor, Cable/Video, 8/31/2015
    Ex-AlcaLu Boss Tasked With Bolstering Altice
    Iain Morris, News Editor, 9/1/2015
    Like Us on Facebook
    Twitter Feed
    September 16, 2015
    Wi-Fi First or Second?
    September 22, 2015
    Media Begins With “Me”
    Webinar Archive
    BETWEEN THE CEOs - Executive Interviews
    Technology industry veteran Martin Lund joins Metaswitch Networks this week as the company's new CEO. In this interview, Lund discusses his new role and the industry's progress with Light Reading CEO Steve Saunders. Lund believes that the industry disruption caused by SDN and NFV is creating opportunities for companies like Metaswitch – network software providers with the agility to embrace new technologies quickly and the ability to deliver on substantial projects for global network operators.
    The scene: Last Saturday, lunchtime, the interior of a shi-shi-foo-foo eatery in Manhattan's SoHo district.
    Cats with Phones
    It's a New Age... Click Here
    When smartphones replace stuffed animals.