ARRIS expects Q1 2009 revenues of $253.5 million as compared to first quarter 2008 revenues of $273.5 million and as compared to fourth quarter 2008 revenues of $292.4 million. Non-GAAP net income in the first quarter 2009 was $0.18 per diluted share, as compared to the first quarter 2008 of $0.12 per diluted share and the fourth quarter 2008 of $0.25 per diluted share.
Order backlog at the end of the first quarter 2009 was $155.0 million and the Company’s book to bill ratio in the first quarter was approximately 1.16. This amount compares to order backlog of $114.8 million and book to bill ratio of 0.90 for the fourth quarter of 2008.
“Although macro-economic conditions caused 2009 to start off somewhat slowly, we delivered a solid quarter with significantly higher earnings than a year ago,” said Bob Stanzione, ARRIS Chairman & CEO. “During the quarter we have seen positive signs in our business that, coupled with the current plans of our customers, gives me cautious optimism that our business will gain momentum in the second quarter and beyond.”
“We are off to a solid start to the year, particularly in light of the overall market conditions and I am pleased to see strengthening demand in the second quarter,” said David Potts, ARRIS EVP & CFO. “As a result, we now project that revenues for the company in the second quarter 2009 will be in the range of $270 to $290 million with non-GAAP net income per diluted share in the range of $0.20 to $0.24 and GAAP net income per diluted share, in the range of $0.12 to $0.16.”http://www.arrisi.com
