Ubiquiti Networks Q1 Profit Rises

(RTTNews) - Ubiquiti Networks Inc. (UBNT) Thursday reported first-quarter net income of $40.5 million or $0.45 per share, up from $13.2 million or $0.14 per share last year.

On average, nine analysts polled by Thomson Reuters expected the company to earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter surge to $129.7 million from 61.5 million a year ago. Analysts estimated revenues of $119.66 million for the quarter.

Looking foreard to the first quarter earnings of $0.40 to $0.44 per share, adjusted earnings of $0.42 to $0.46 per share and revenues of between $130 million and $136 million. Analysts currently estimate earnings of $0.40 per share on revenues of $123.77 million for the quarter.