ARRIS Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - ARRIS Group, Inc. (ARRS) reported that its preliminary third-quarter net income increased to $54.63 million from $17.17 million, last year. Earnings per share was $0.37, compared to $0.12. Adjusted net income in the third quarter 2014 was $0.81 per share.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.72 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $1.41 billion compared to $1.07 billion, a year ago. Analysts expected revenue of $1.40 billion for the quarter.

For the fourth quarter 2014, the company now projects that revenues will be in the range of $1.23 billion to $1.27 billion, with adjusted net income per share in the range of $0.58 to $0.63 and GAAP net income per share in the range of $0.26 to $0.31. Analysts expect the company to report fourth-quarter earnings per share of $0.63 on revenue of $1.34 billion.