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Arris reports Q3 revenue and profit drop

arrisArris reported year-on-year drops in revenue and profits in the third quarter, citing “headwinds” related to “telco capex, industry consolidations and the strong US dollar”.

Commenting on the results, Arris chairman and CEO, Bob Stanzione, said that he remained “confident about our future business prospects” and said that Arris’ pending takeover of Pace will make the company “even better positioned for future growth.”

“Last week the shareholders of both Arris and Pace approved the combination and we continue to work to satisfy the remaining regulatory conditions to close the transaction,” said Stanzione.

Overall in the quarter, Arris’ revenues came in at US$1.22 billion (€1.11 billion), down 13.1% year-on-year. Net income attributable to the company was US$26.3 million, compared to US$54.6 million a year earlier.

“Our third quarter results were in line with our expectations and are lower than the third quarter of last year when we were launching an unprecedented number of new products,” said Stanzione.  

Tags: Arris, Pace