ARRIS Group Posts Q2 Loss - Quick Facts

(RTTNews) - ARRIS Group, Inc. (ARRS) reported a second-quarter net loss of $50.28 million or $0.37 per share, compared to profit of $15.00 million or $0.13 per share, last year. Adjusted net income in the second quarter 2013 was $0.46 per share.

The company noted that its acquisition of Motorola Home, which was closed on April 17, 2013, will significanly impact comparisons to prior periods.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.26 for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $1.00 billion, from $349.33 million last year. Analysts expected revenue of $975.57 million for the quarter. The company expects its third-quarter revenues to be in the range of $1.05 billion to $1.08 billion, with adjusted net income per share in the range of $0.32 to $0.37 and GAAP net loss per share in the range of $0.07 to $0.12. Analysts expect the company to report third-quarter profit per share of $0.34 on revenue of $1.11 billion.