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US telco equipment company ARRIS International has announced preliminary and unaudited financial results for the first quarter 2017.
Revenues in the first quarter 2017 of $1.483 billion (€1.36bn) were down $132 million, or 8 per cent, as compared to first quarter 2016 revenues of $1.615 billion. First quarter revenues were down $276 million, or 16 per cent, as compared to fourth quarter 2016 revenues of $1.759 billion.
“We had a solid finish to Q1 on good order flow and shipments. We expect the key technology trends that underpin our business – fibre deep, DOCSIS 3.1, advanced wireless home networking, and 4K video – to gain momentum and result in second-half growth. We believe that we remain on track to achieve our full year targets. With respect to the second quarter 2017, we expect revenues will be in the range of $1.64 billion to $1.69 billion, GAAP net income per diluted share in the range of $0.02 to $0.07, and adjusted net income per diluted share in the range of $0.55 to $0.60,” said Bruce McClelland, ARRIS CEO. “We are making great progress with integration planning for our upcoming Ruckus Networks acquisition, and continue to work towards a third quarter close.”