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ARRIS Announces Preliminary and Unaudited Fourth Quarter and Full Year 2010 Results

SUWANEE, Ga. Feb. 9, 2011

$266.2 million $300.0 million $274.3 million $1,087.5 million $1,107.8 million

$0.19 $0.32 $0.19 $0.03 $0.85 $1.01

$0.09 $0.26 $0.11 $0.50 $0.71 www.arrisi.com

Gross margin for the fourth quarter 2010 was 36.2%, which compares to the fourth quarter 2009 gross margin of 44.8% and the third quarter 2010 gross margin of 37.2%.  Year over year margin decline was the result of a shift in product mix.

$620.1 million $625.6 million $640.4 million $30 million $5 million $92.6 million $24 million $22.6 million $118.5 million $69.8 million $241.0 million

$140.4 million $144.4 million $119.6 million

Bob Stanzione

During the quarter the Company announced its highly-anticipated downstream module upgrade, significantly increasing the downstream density of the DOCSIS(R) 3.0 C4 CMTS.  DOCSIS 3.0 was introduced initially in 2008 on the C4 CMTS with a 16 downstream channel single slot Cable Access Module (CAM). With this second generation DOCSIS 3.0 capability, the capacity of the 16D CAMs can be increased to 32 Annex B or 24 Annex A downstream channels.

$260 to $280 million $0.14 to $0.18 $0.05 to $0.09 David Potts

5:00 pm EST Wednesday, February 9, 2011 Jim Bauer 5:00 pm EST Monday, February 14, 2011 www.arrisi.com

About ARRIS

Suwanee, Georgia Suwanee, GA Beaverton, OR Chicago, IL Kirkland, WA State College, PA 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 first quarter 2011, full year 2011, 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 first quarter as well as the general outlook for 2011 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.

September 30, 2010

ARRIS GROUP, INC.

PRELIMINARY CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

December 31,

September 30,

June 30,

March 31,

December 31,

2010

2010

2010

2010

2009

ASSETS

Current assets:

Cash and cash equivalents

$             353,121

$             351,894

$             370,932

$             500,044

$             500,565

Short-term investments, at fair value

266,981

288,463

292,421

161,012

125,031

Total cash, cash equivalents and short term investments

620,102

640,357

663,353

661,056

625,596

Restricted cash

4,937

4,480

4,478

4,476

4,475

Accounts receivable, net

125,933

133,915

139,673

139,207

143,708

Other receivables

6,528

2,654

6,368

3,057

6,113

Inventories, net

101,763

89,203

78,830

79,907

95,851

Prepaids

9,237

8,934

10,196

10,546

11,675

Current deferred income tax assets

19,819

28,585

30,469

37,324

35,994

Income taxes recoverable

21,907

17,094

5,943

3,106

Other current assets

11,147

11,253

15,386

14,328

15,790

Total current assets

921,373

936,475

954,696

949,901

942,308

Property, plant and equipment, net

56,306

56,816

56,128

56,223

57,195

Goodwill

234,963

235,109

235,122

235,256

235,388

Intangible assets, net

168,616

177,560

186,529

195,551

204,572

Investments

31,015

29,591

29,485

25,435

20,618

Noncurrent deferred income tax assets

6,294

6,560

6,127

6,298

6,759

Other assets

5,520

6,129

6,755

8,050

8,776

$          1,424,087

$          1,448,240

$          1,474,842

$          1,476,714

$          1,475,616

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$               50,736

$               52,011

$               72,652

$               44,523

$               53,979

Accrued compensation, benefits and related taxes

28,778

25,913

20,696

23,639

36,936

Accrued warranty

2,945

3,504

3,539

3,632

4,265

Deferred revenue

31,625

36,029

44,913

53,024

47,044

Current portion of long-term debt

12

50

87

124

Current deferred income tax liability

Other accrued liabilities

18,847

25,891

24,476

42,978

46,203

Total current liabilities

132,931

143,360

166,326

167,883

188,551

Long-term debt, net of current portion

202,615

204,053

212,914

214,131

211,248

Accrued pension

17,213

17,383

17,058

16,733

16,408

Noncurrent income taxes payable

17,702

16,509

16,523

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