ARRIS reported preliminary results for Q1, including net revenue of $208.3 million, up 53% as compared to $135.9 million in the first quarter 2005 and up 15% as compared to $181.3 million in the fourth quarter of 2005. Net income per diluted share for the first quarter 2006 was $0.19, up 375% as compared to $0.04 in the first quarter 2005 and down 5% as compared to $0.20 in the fourth quarter of 2005. Gross margins were 27.1%, equal to the first quarter 2005 and down from 31.9% in the fourth quarter 2005 primarily due to changes in product mix coupled with price reductions that took effect at the beginning of 2006.
“Our results this quarter show that we have started 2006 with great momentum,” said Bob Stanzione, ARRIS Chairman & CEO. “Accelerating competition within our customers’ markets continues to drive demand for more bandwidth, more new services and higher levels of quality. The new, innovative and market leading products that ARRIS is now delivering for data, voice and video transport, help our customers in the growing competition between, cable, telco and satellite. As a result, I am very positive about the outlook for ARRIS in 2006 and beyond.”http://www.arrisi.com
