WASHINGTON (dpa-AFX) - ARRIS Group, Inc. (ARRS) reported first-quarter net income of $19.1 million or $0.13 per share, compared to $40.8 million or $0.28 per share, prior year. Adjusted net income was $0.44 per share, for the quarter.
On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 for the quarter. Analysts' estimates typically exclude special items.
Revenues were $1.22 billion down 1%, as compared to first quarter 2014 revenues of $1.23 billion. Analysts expected revenue of $1.22 billion for the quarter.
With respect to the second quarter 2015, the company expects revenues will grow and will be in the range of $1.27 billion to $1.31 billion, with adjusted net income per share in the range of $0.53 to $0.58 and GAAP net income per share in the range of $0.17 to $0.22. Analysts expect the company to report second-quarter earnings per share of $0.58 on revenue of $1.31 billion.
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