ARRS shares gained after the cable-equipment manufacturer said it earned $40.8 million during the quarter. In the prior-year periods ARRS reported a loss of $14.7 million. Adjusted EPS came in at 47 cents, beating the 45 cents that Wall Street had anticipated, RTT News noted.
Looking forward, ARRS said that it expects second-quarter adjusted EPS of between 64 cents and 70 cents on revenue of between $1.4 billion and $1.5 billion. That topped analysts forecasts of a profit of 50 cents on revenue of $1.2 billion during the current quarter, the Wall Street Journal said.
ARRS stock closed Tuesday at $25.72 per share.
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