Technology company Arris posted 32 percent growth in year-over-year revenue to $1.4 billion in the third quarter, resulting in a profit of $54.6 million and earnings per share of 81 cents that beat analysts' forecast of 72 cents.
Listed among the Q3 highlights:
> Broadband device and accessory unit sales improved 13 percent, with strong demand for DOCSIS 3.0 Wi-Fi gateways reported.
> Video set-top sales improved 27 percent over Q3 2013, with the company shipping its one-millionth video gateway device in the quarter.
> Record sales in the area of cable modem termination systems, with DS channels improving 33 percent over Q2.
"The network and cloud increases were driven primarily by the E6000 and our video solutions," said Robert Stanzione, chairman and CEO of Arris. 'We're at the center of the industry's continued investment in bandwidth expansion, cloud DVR and video processing. We reached a record level of downstream channels with our E6000 this quarter, with a 33% increase over the second quarter. And we continue to expand the footprint around the world, giving--having announced new deployments in multiple countries. And as I've mentioned before, the expansion of these deployments will lead to future revenues and stronger margin contributions."
For more:
- read this Arris earnings release
- listen to investor presentation
Earnings roundup: Sizing up pay-TV earnings for the third quarter of 2014
Related links:
TWC rolls out six-tuner Arris DVR in NYC, L.A.
Arris to tout OBI-conquering RFoG solution at Cable-Tec Expo