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ARRIS Announces Preliminary and Unaudited First Quarter 2012 Results

SUWANEE, Ga. April 25, 2012

$302.9 million $267.4 million $281.1 million

$0.19 $0.16 $0.21

$0.05 $0.09 $(0.51) www.arrisi.com

Gross margin for the first quarter 2012 was 36.0%, which compares to the first quarter 2011 gross margin of 36.3% and the fourth quarter 2011 gross margin of 37.9%.

$567.2 million $514.3 million $52.9 million $561.1 million $26.3 million $35.9 million $(3.6) million

$277.7 million $177.5 million $148.5 million

Bob Stanzione

Boston

David Potts $330 to $350 million $0.20 to $0.24 $0.10 to $0.14

5:00 pm EDT Wednesday, April 25, 2012 Bob Puccini May 2, 2012 www.arrisi.com

About ARRIS

Suwanee, GA Suwanee, GA Beaverton, OR Lisle, IL Kirkland, WA State College, PA Tel Aviv, Israel Wallingford, CT Waltham, MA Cork, Ireland Shenzhen, China www.arrisi.com

Forward-looking statements:

Statements made in this press release, including those related to:

  • growth expectations and business prospects;
  • revenues and net income for the second quarter 2012, and beyond;
  • expected sales levels and acceptance of new ARRIS products; and
  • the general market outlook and industry trends

are forward-looking statements. These statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.  Among other things,

  • projected results for the second quarter 2012 as well as the general outlook for 2012 and beyond are based on preliminary estimates, assumptions and projections that management believes to be reasonable at this time, but are beyond management’s control;
  • ARRIS’ customers operate in a capital intensive consumer based industry, and the current volatility in the capital markets or changes in customer spending may adversely impact their ability or willingness  to purchase the products that the Company offers; and
  • because the market in which ARRIS operates is volatile, actions taken and contemplated may not achieve the desired impact relative to changing market conditions and the success of these strategies will be dependent on the effective implementation of those plans while minimizing organizational disruption.

December 31

 

  

ARRIS GROUP, INC.

PRELIMINARY CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

March 31,

December 31,

September 30,

June 30,

March 31,

2012

2011

2011

2011

2011

ASSETS

Current assets:

Cash and cash equivalents

$   215,808

$        235,875

$         354,659

$   360,281

$   358,747

Short-term investments, at fair value

298,539

282,904

220,318

231,254

260,862

Total cash, cash equivalents and short term investments

514,347

518,779

574,977

591,535

619,609

Restricted cash

3,943

4,101

3,647

3,646

4,176

Accounts receivable, net

183,427

152,437

165,821

152,436

149,976

 

5,071

8,789

5,296

406

5,275

Inventories, net

105,114

115,912

116,769

113,020

105,787

Prepaids

12,436

10,408

10,692

10,272

12,115

Current deferred income tax assets

22,068

22,048

24,239

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