SUWANEE, Ga. (AP) _ Arris Group Inc. (ARRS) on Wednesday reported a loss of $39.1 million in its first quarter.
On a per-share basis, the Suwanee, Georgia-based company said it had a loss of 21 cents. Earnings, adjusted for one-time gains and costs, came to 40 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The communications technology company posted revenue of $1.48 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.47 billion.
For the current quarter ending in July, Arris Group expects its per-share earnings to range from 55 cents to 60 cents.
The company said it expects revenue in the range of $1.64 billion to $1.69 billion for the fiscal second quarter.
Arris Group expects full-year earnings in the range of $2.40 to $2.60 per share, with revenue ranging from $6.6 billion to $6.8 billion.
Arris Group shares have declined 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.30, an increase of 9 percent in the last 12 months.
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
Keywords: Arris Group, Earnings Report