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ARRIS Announces Preliminary and Unaudited Second Quarter 2011 Results

SUWANEE, Ga. July 27, 2011

$265.8 million $280.4 million $267.4 million $533.2 million $547.1 million

$0.24 $0.24 $0.16 $0.40 $0.48

$0.13 $0.15 $0.09 $0.23 $0.30 www.arrisi.com

Gross margin for the second quarter 2011 was 40.2%, which compares to the second quarter 2010 gross margin of 40.4% and the first quarter 2011 gross margin of 36.3%.

$591.5 million $71.9 million $28.1 million $57.6 million $31.4 million $27.8 $35.2 million $83.4

$154.2 million $174.1 million $177.5 million

Bob Stanzione

Canada

$270 to $290 million $0.19 to $0.23 $0.09 to $0.13 David Potts

5:00 pm EDT Wednesday, July 27, 2011 Jim Bauer August 3, 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 third 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 third quarter 2011 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.

March 31, 2011

ARRIS GROUP, INC.

PRELIMINARY CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

June 30,

March 31,

December 31,

September 30,

June 30,

2011

2011

2010

2010

2010

ASSETS

Current assets:

Cash and cash equivalents

$             360,281

$             358,747

$             353,121

$             351,894

$             370,932

Short-term investments, at fair value

231,254

260,862

266,981

288,463

292,421

Total cash, cash equivalents and short term investments

591,535

619,609

620,102

640,357

663,353

Restricted cash

3,646

4,176

4,937

4,480

4,478

Accounts receivable, net

152,436

149,976

125,933

133,915

139,673

Other receivables

406

5,275

6,528

2,654

6,368

Inventories, net

113,020

105,787

101,763

89,203

78,830

Prepaids

10,272

12,115

9,237

8,934

10,196

Current deferred income tax assets

22,681

20,450

19,819

28,585

30,469

Other current assets

25,216

33,535

33,054

28,347

21,329

Total current assets

919,212

950,923

921,373

936,475

954,696

Property, plant and equipment, net

57,100

56,617

56,306

56,816

56,128

Goodwill

233,440

233,471

234,964

235,109

235,122

Intangible assets, net

150,728

159,672

168,616

177,560

186,529

Investments

34,237

32,787

31,015

29,591

29,485

Noncurrent deferred income tax assets

9,839

10,183

6,293

6,560

6,127

Other assets

5,878

5,798

5,520

6,129

6,755

$          1,410,434

$          1,449,451

$          1,424,087

$          1,448,240

$          1,474,842

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$               27,825

$               35,796

$               50,736

$               52,011

$               72,652

Accrued compensation, benefits and related taxes

20,832

26,278

28,778

25,913

20,696

Accrued warranty

3,300

2,931

2,945

3,504

3,539

Deferred revenue

47,166

43,019

31,625

36,029

44,913

Current portion of long-term debt

12

50

Other accrued liabilities

17,805

17,594

18,847

25,891

24,476

Total current liabilities

116,928

125,618

132,931

143,360

166,326

Long-term debt, net of current portion

208,336

205,447

202,615

204,053

212,914

Accrued pension

17,730

17,472

17,213

17,383

17,058

Noncurrent income taxes payable

21,845

21,844

17,702

16,509

16,523

Noncurrent deferred income tax liabilities

24,808

25,827

29,151

32,193

28,705

Other noncurrent liabilities

17,367

18,271

15,406

14,926

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