Arris has cut its second quarter revenue guidance citing “pending industry consolidation” and the strengthening US dollar.
In a statement ahead of its Q2 earnings call, which is scheduled for July 29, Arris cut its quarterly revenue guidance from US$1.27 billion – US$1.31 billion to US$1.25 billion – US$1.26 billion.
“The headwinds we faced in the second quarter were stronger than anticipated resulting in the update to our second quarter 2015 revenue and earnings guidance,” said Arris chairman and CEO Bob Stanzione.
“Our business continues to be impacted by external factors, most notably the various pending industry consolidations and by the strengthening of the US dollar. At this point, we anticipate that these factors will continue to impact us in the second half of 2015.
Stanzione said that Arris expects its US$2.1 billion acquisition of rival set-top box maker Pace, which was first announced in April, to help counter some of these industry conditions “as a result of anticipated synergies and a more diversified customer base and product portfolio.”
“The combination is proceeding as expected, with regulatory approvals recently received from both Germany and South Africa. We continue to anticipate closing the combination in the fourth quarter of 2015.”
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