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Arris Group beats 4Q profit forecasts

SUWANEE, Ga. (AP) _ Arris Group Inc. (ARRS) on Wednesday reported fourth-quarter earnings of $86.7 million.

The Suwanee, Georgia-based company said it had profit of 45 cents per share. Earnings, adjusted for one-time gains and costs, came to 79 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The communications technology company posted revenue of $1.76 billion in the period.

For the year, the company reported profit of $16.6 million, or 9 cents per share. Revenue was reported as $6.83 billion.

For the current quarter ending in April, Arris Group expects its per-share earnings to range from 36 cents to 40 cents.

The company said it expects revenue in the range of $1.44 billion to $1.49 billion for the fiscal first quarter.

Arris Group shares have increased nearly 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.70, an increase of 34 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARRS at https://www.zacks.com/ap/ARRS

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Keywords: Arris Group, Earnings Report