Ubiquiti Inc. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Ubiquiti Inc. (UI) revealed a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $76.3 million, or $1.26 per share. This compares with $98.6 million, or $1.63 per share, in last year's third quarter.

Excluding items, Ubiquiti Inc. reported adjusted earnings of $77.6 million or $1.28 per share for the period.

Analysts on average had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $493.0 million from $457.8 million last year.

Ubiquiti Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $76.3 Mln. vs. $98.6 Mln. last year. -EPS (Q3): $1.26 vs. $1.63 last year. -Revenue (Q3): $493.0 Mln vs. $457.8 Mln last year.