Arris completed its previously announced acquisition of Motorola Home.
Arris also announced Q2 revenue of $1,000.4 million. The company estimates that prior to the close of the acquisition, Motorola Home recorded approximately $66 million of revenue in the second quarter.
GAAP net loss in the second quarter 2013 was $(0.37) per diluted share, as compared to second quarter 2012 GAAP net income of $0.13 per diluted share and first quarter 2013 GAAP net loss of $(0.13) per diluted share. Year to date, GAAP net loss was $(0.52) per diluted share in 2013 as compared to GAAP net income of $0.18 per diluted share in 2012. A reconciliation of adjusted net income to GAAP net income per diluted share is attached to this release and also can be found on the Company’s website (www.arrisi.com).
“I am very pleased with our second quarter and first half results. The industry continues to react positively to our Motorola Home acquisition. Our integration plans are well on their way and ahead of schedule,” said Bob Stanzione, ARRIS Chairman and CEO. “I am encouraged by the progress we are making in delivering new products to our customers and by an improving business climate.”
