Results: Arris dips on slow demand
February 10, 2011
Revenue fell 11.3 per cent in the fourth quarter of 2010, at Arris as sales to Comcast and Time Warner Cable – its two biggest customers – dropped compared with the year-earlier period.
The leading supplier of cable modem and embedded multimedia terminal adapters, posted fourth quarter 2010 revenue of $266.2 million, versus $300.0 million a year earlier, and net income fell by 66 per cent, to $11.3 million for the fourth quarter of 2010 from $33.3 million a year earlier.
Sales to other U.S. operators increased 13 per cent for 2010 and the international segment was up 30 per cent. Looking ahead, the company projects that it can tap into a $4 billion addressable market for advanced set-top boxes by 2013. Arris in 2009 acquired Digeo, a maker of DVRs and related software owned by Paul Allen, for $20 million.