Ubiquiti Networks Q2 Profit Rises; Issues Q3 Outlook

(RTTNews) - Ubiquiti Networks Inc. (UBNT) Thursday reported second-quarter net income of $41.8 million or $0.47 per share, compared to $17.8 million or $0.20 per share in the comparable quarter last year.

On average, eleven analysts polled by Thomson Reuters expected the company to earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose 85% to $138.44 million from $74.90 million a year ago. Analysts estimated revenues of $133.33 million for the quarter.

Looking ahead to the third quarter, the company expects earnings of $0.46 to $0.50 per share, adjusted earnings of $0.47 to $0.51 per share and revenues of between $138 million and $144 million. Analysts currently estimate earnings of $0.46 per share on revenues of $137.52 million for the quarter.