Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Ubiquiti Networks (UI 0.58%) have jumped today by as much as 12%, after the company reported earnings.
So what: Revenue in the quarter totaled $74.9 million, which translated into non-GAAP earnings per share of $0.20. Both top and bottom line results compared favorably relative to the $71.6 million in sales, and $0.18 per share profit that the Street was modeling for.
Now what: CEO Robert Pera said the company continues to invest in its infrastructure, and that its anti-counterfeit manufacturing technology has been implemented throughout all of Ubiquiti's platforms. Guidance for the current quarter calls for revenue in the range of $76 million to $84 million, with adjusted earnings per share of $0.20 to $0.24. Analysts were expecting just under $75 million in sales, and $0.19 per share in adjusted profit.
Interested in more info on Ubiquiti Networks? Add it to your watchlist by clicking here.
