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Arris Group Inc Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 7, 2012 11:20AM
Arris Group Inc (ARRS) filed Quarterly Report for the period ended 2012-03-31.
Highlight of Business Operations:Sales in the first quarter of 2012 were $302.9 million as compared to $267.4 million in the same period in 2011. The increase is the result of higher sales of our DOCSIS CPE and Video Gateway products as well as the effect of a full quarter of sales of our EMP product resulting from our late 2011 acquisition of BigBand Networks.
During the three months ended March 31, 2012, sales in our BCS segment increased by approximately 18.3% as compared to the same period in 2011. We had higher sales of CPE products, in particular wireless EMTAs and cable modems in the quarter. In addition, we had a full quarter of BigBand product sales in Q1 2012.
During the three months ended March 31, 2012, sales in our Access, Transport and Supplies segment decreased by approximately 3.4% as compared to the same period in 2011. The decline in sales is primarily the result of lower sales of Supplies products and professional and commercial services. Partially offsetting these declines in Supplies and Services were higher sales of access and transport products, primarily for headend optics.
During the three months ended March 31, 2012, sales in our Media & Communications Systems segment decreased by approximately 5.6% as compared to the same period in 2011. Revenue in this segment varies as it is tied to customer acceptances and non linear orders.
From time to time, we hold certain investments in the common stock of publicly-traded companies, which are classified as available-for-sale. As of March 31, 2012 and December 31, 2011 our holdings in these investments were $5.3 million and $4.8 million, respectively. Changes in the market value of these securities are recorded in other comprehensive income and gains or losses on related sales of these securities are recognized in income (loss).
Stocks Discussed: ARRS,