Ubiquiti Networks CFO Craig Foster Resigns; Co. Warns On Q3

(RTTNews) - Ubiquiti Networks, Inc. (UBNT) said Thursday that its Chief Financial Office and board menber, Craig Foster, has resigned to accept a position with another company.

Ubiquiti Networks said it is conducting a search for a new Chief Financial Officer.

Hartley Nisenbaum, Executive Vice President of Operations and Legal Affairs, has been appointed as the company's interim Chief Financial Officer. Foster's duties as principal financial officer and principal accounting officer will be performed on an interim basis by Rohit Chakravarthy, Vice President of Finance and Corporate Controller, who has also been appointed as the company's Chief Accounting Officer.

Additionally, the company said it now expects revenues of $147.5 million, earnings of $0.46 per share and adjusted earnings of $0.47 per share for its third fiscal quarter. On February 5, the company had provided its initial third quarter outlook, which called for revenue of $146 million to $158 million, earnings of $0.44 to $0.49 per share and adjusted earnings of $0.45 to $0.50 per share.

Analysts polled by Thomson Reuters currently expect the company to report earnings of $0.49 per share on revenue of $153.40 million for the third quarter. Analysts' estimates typically exclude special items.