Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 February, 2024 19:22 IST
Ubiquiti Networks third-quarter profit rises 22.26 percent on a YOY basis
Source: IRIS | 07 Jun, 2017, 02.15PM

Powered by IRIS XBRL Data
Rating: NAN / 5 stars.
Comments  |  Post Comment

Ubiquiti Networks, Inc (UBNT) has reported 22.26 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $64.43 million, or $0.77 a share in the quarter, compared with $52.70 million, or $0.62 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $64.61 million, or $0.78 a share compared with $53.03 million or $0.63 a share, a year ago.  

Revenue during the quarter surged 30.42 percent to $218.36 million from $167.43 million in the previous year period. Gross margin for the quarter contracted 389 basis points over the previous year period to 45.38 percent. Total expenses were 66.38 percent of quarterly revenues, up from 64.08 percent for the same period last year. That has resulted in a contraction of 230 basis points in operating margin to 33.62 percent.

Operating income for the quarter was $73.41 million, compared with $60.14 million in the previous year period.

For the fourth-quarter 2017, Ubiquiti Networks, Inc projects revenue to be in the range of $215 million to $225 million and its diluted earnings per share to be in the range of $0.69 to $0.74 and its adjusted diluted earnings per share to be in the range of $0.70 to $0.75.

Working capital increases sharply
Ubiquiti Networks, Inc has recorded an increase in the working capital over the last year. It stood at $763.61 million as at Mar. 31, 2017, up 30.73 percent or $179.50 million from $584.11 million on Mar. 31, 2016. Current ratio was at 8.71 as on Mar. 31, 2017, down from 11.19 on Mar. 31, 2016.

Cash conversion cycle (CCC) has increased to 53 days for the quarter from 19 days for the last year period. Days sales outstanding went up to 39 days for the quarter compared with 18 days for the same period last year.

Days inventory outstanding has increased to 50 days for the quarter compared with 41 days for the previous year period. At the same time, days payable outstanding went down to 36 days for the quarter from 39 for the same period last year.

Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]



 Post Comment
Name Email
Comment
Security Code type    into this box
US Equities
Innodata Isogen swings to first-quarter loss on a YOY basis - 10-Jul-2017 03:29
Echelon Corp first-quarter loss widens on a YOY basis - 09-Jul-2017 20:32
Diversicare Healthcare Services swings to first-quarter profit on a YOY basis - 09-Jul-2017 19:51
Dextera Surgical third-quarter loss widens on a YOY basis - 09-Jul-2017 18:20
Open Text Corp third-quarter earnings plunge by 68.72 percent on a YOY basis - 09-Jul-2017 15:17
NAPCO Security Technologies third-quarter earnings decline by 12.19 percent on a YOY basis - 09-Jul-2017 14:31
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Alaska Communications Systems Group swings to first-quarter loss on a YOY basis - 09-Jul-2017 12:00
Delcath Systems first-quarter loss widens on a YOY basis - 08-Jul-2017 18:33
Edgewater Technology first-quarter loss widens on a YOY basis - 08-Jul-2017 16:21
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer