Ubiquiti Networks (UBNT) Misses Q2 EPS by 13c, Beats on Revenues; Q3 EPS/Revenue Mid-Point Outlooks Below Consensus

Ubiquiti Networks (NASDAQ: UBNT) reported Q2 EPS of $0.76, $0.13 worse than the analyst estimate of $0.89. Revenue for the quarter came in at $250.8 million versus the consensus estimate of $239.89 million.

• Revenues of $250.8 million, increasing 17.5% year-over-year
• GAAP net loss of $51.5 million and GAAP loss per share of $0.66
• Net loss due to the Tax Cuts and Jobs Act, which resulted in a $110.7 million tax expense
• Non-GAAP net income of $59.6 million and non-GAAP diluted EPS of $0.76

Business Outlook

Based on recent business trends, Ubiquiti currently believes the demand environment in its end markets supports the following forecast for the Company\'s third fiscal quarter ending March 31, 2018:

• Revenues of between $245 million and $260 million; and
• Non-GAAP diluted EPS of $0.92 - $0.99.

GUIDANCE:

Ubiquiti Networks sees Q3 2018 EPS of $0.92-$0.99, versus the consensus of $0.98. Ubiquiti Networks sees Q3 2018 revenue of $245-260 million, versus the consensus of $254.96 million.

For earnings history and earnings-related data on Ubiquiti Networks (UBNT) click here.

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