Technology

On the Move Stock Trend: ARRIS International plc (NASDAQ: ARRS)

Shares of ARRIS International plc (NASDAQ: ARRS) closed with gain/decline of -1.16% to $23.03. Recent traded volume was 1,049,592 million shares versus to it an average volume of 1,197,432 shares. The company holds 180.33M shares outstanding and market cap of 4.153B. The stock day range was recorded between a low of $22.95 and a high $23.64.

ARRIS International plc (ARRS) recently reported preliminary and unaudited financial results for the second quarter 2018.

Second Quarter 2018 Financial Highlights

  • Revenues were $1.727B
  • GAAP net income was $0.19per diluted share
  • Adjusted net income (a non-GAAP measure) was $0.72per diluted share
  • End-of-quarter cash resources were $548M
  • $100Mof share repurchases ($175M YTD as of 8/1/2018)
  • Order backlog was $1.3B
  • Book-to-bill ratio was 0.98

“ARRIS posted a solid second quarter, with non-GAAP earnings growing 14% year-over-year to $0.72 per share with continued strong performance from our higher margin Network & Cloud and Enterprise businesses,” stated Bruce McClelland, ARRIS CEO.  “Revenue grew by 4% year-over-year with the addition of Ruckus and raised E6000 CCAP sales.  We have been active buyers of our stock in 2018 and intend to allocate the majority of our free cash flow to stock repurchases for the remainder of the year, targeting a minimum of $400M for the year.”

“For the third quarter 2018, we are estimating revenues in the range of $1.680B to $1.730B.  We expect GAAP net income per diluted share in the range of $0.20 to $0.25and adjusted net income per diluted share in the range of $0.65 to $0.70.  For full year 2018, we now expect sales to be in the range of $6.850B to $7.0B, GAAP net income per diluted share in the range of $0.68 to $0.83 and adjusted net income per diluted share in the range of $2.85 to $3.00.”

Revenues in the second quarter 2018 of $1.727B were up $63M, or 4%, as contrast to second quarter 2017 revenues of $1.664B and up $149M, or 9%, as contrast to first quarter 2018 revenues of $1.578B.

Through the first six months of 2018, revenues were $3.304B, up $157M, or 5%, as contrast to the first six months of 2017 revenues of $3.147B.

GAAP net income in the second quarter 2018 was $0.19 per diluted share, as contrast to GAAP net income of $0.16 per diluted share in the second quarter 2017 and a GAAP net loss of $(0.07) per diluted share in the first quarter 2018.

Year to date 2018 GAAP net income was $0.12 per diluted share, as contrast to the first six months of 2017 GAAP net loss of $(0.05) per diluted share.

Adjusted net income (a non-GAAP measure) in the second quarter 2018 was $0.72 per diluted share, as contrast to $0.63 per diluted share for the second quarter 2017, and first quarter 2018 adjusted net income of $0.73 per diluted share.

Year to date adjusted net income was $1.45 per diluted share for 2018 as contrast to the first six months of 2017 adjusted net income of $1.04 per diluted share.
The stock as of last trading session moved 5.50% up from its 52 week low and was -23.23% behind its 52 week high. In the trailing 12 months period, return on assets ratio of the Company was 1.60% and return on equity ratio was 3.90% while its return on investment ratio was 2.70%.

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