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UPDATE 1-Arris posts weak Q2 results, Q3 outlook; shares fall
July 28, 2010 / 9:35 PM / in 7 years

UPDATE 1-Arris posts weak Q2 results, Q3 outlook; shares fall

* Q2 adj EPS $0.24 vs est $0.25

* Q2 rev $280.4 mln vs est $288.3 mln

* Sees Q3 adj EPS $0.16-$0.20 vs est $0.27

* Shares fall 10 pct in extended trade

July 28 (Reuters) - Communications technology company Arris Group Inc (ARRS.O) posted lower-than-expected quarterly results and forecast a weak third quarter, sending its shares down 10 percent in extended trade.

The company, which provides products that enable high-speed data and video traffic, forecast third-quarter earnings of 16 cents a share to 20 cents a share, excluding items, on revenue of $270 million to $290 million.

Analysts were looking for third-quarter earnings of 27 cents a share, before items, on revenue of $300.5 million, according to Thomson Reuters I/B/E/S.

For the second quarter, the company earned $19.8 million, or 15 cents per share, compared with $22.9 million, or 18 cents a share.

Excluding items, Arris earned 24 cents a share, slightly below analysts’ expectations of 25 cents a share.

Revenue rose about one percent to $280.4 million, while analysts were expecting $288.3 million.

Shares of the company fell 10 percent to $10.35 in trading after the bell. They closed at $11.49 Wednesday on Nasdaq. (Reporting by Manasi Phadke in Bangalore; Editing by Roshni Menon)

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