Ubiquiti Networks Q4 Adj. Profit Tops View

(RTTNews) - Ubiquiti Networks, Inc. (UBNT) reported fourth-quarter net income of $49.4 million, or $0.55 per share, compared to $28.8 million, or $0.32 per share, last year.

Non-GAAP net income was $50.2 million, or $0.56 per share, up from $29.5 million, or $0.33 per share in the comparable quarter last year. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.51 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 54% to a record $156.01 million, compared to $101.23 million, while 11 analysts expected revenue of $151.03 million, for the quarter.

Ubiquiti expects its first quarter GAAP earnings to be in the range of $0.51 to $0.53, Non-GAAP earnings of $0.52 to $0.54 and revenue in the order of $156 million to $161 million. Analysts expect the company to report first-quarter profit per share of $0.52 on revenue of $156.76 million.