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Cambium Networks: 3Q Earnings Snapshot

·1 min read

ROLLING MEADOWS, Ill. (AP) _ Cambium Networks Corporation (CMBM) on Thursday reported third-quarter earnings of $5.6 million.

The Rolling Meadows, Illinois-based company said it had net income of 21 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 29 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The company posted revenue of $73 million in the period, matching Street forecasts.

For the current quarter ending in December, Cambium Networks expects its per-share earnings to range from 24 cents to 28 cents.

The company said it expects revenue in the range of $74 million to $78 million for the fiscal fourth quarter.

Cambium Networks shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.78, more than doubling 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 CMBM at https://www.zacks.com/ap/CMBM