ARRIS Provides Update to Second Quarter 2008 Guidance
July 08 2008 - 5:00PM
PR Newswire (US)
SUWANEE, Ga., July 8 /PRNewswire-FirstCall/ -- ARRIS (NASDAQ:ARRS),
a global technology leader in advanced cable telephony and
broadband access equipment, next generation equipment for
high-speed data and video applications, and operations software
solutions, today provided an update to second quarter guidance. The
Company now anticipates that revenues for the second quarter will
be below previous guidance, that GAAP and non-GAAP earnings per
share will be at or near the lower end of previous guidance and
that bookings and backlog will be much improved as compared to the
first quarter. Specifically, revenues in the second quarter 2008
are expected to be in the range of $278 to $280 million. The
Company also anticipates a sequential increase in order backlog and
estimates book-to-bill ratio for the second quarter to be
approximately 1.20. "Our revised guidance for the second quarter is
primarily driven by maturing demand for EMTAs as well as for plant
extension and installation equipment," said Bob Stanzione, ARRIS
Chairman & CEO. "On the positive side, our CMTS demand
continued to be strong and we expect to report improved gross
margins as compared to the first quarter. Also, strong order input,
particularly for our next generation DOCSIS 3.0 equipment,
indicates significant improvement in the third quarter and beyond."
Detailed revenue and earnings guidance for the third quarter 2008
and additional comments on the remainder of 2008 will be disclosed
when the Company formally releases second quarter results after the
market close on July 30, 2008. ARRIS management will conduct a
conference call at 5:00pm EDT, today, Tuesday, July 8, 2008, to
discuss this announcement in detail. You may participate in this
conference call by dialing (866) 356-4441 or (617) 597-5396 for
international calls prior to the start of the call and providing
the ARRIS Group, Inc. name, conference passcode 43265042 and Jim
Bauer as the moderator. Please note that ARRIS will not accept any
calls related to this release until after the conclusion of the
5:00pm EDT conference call. A replay of the conference call can be
accessed approximately two hours after the call through July 15,
2008 by dialing (888) 286-8010 or (617) 801-6888 for international
calls and using the passcode 64426745. A replay also will be made
available for a period of 12 months following the conference call
on ARRIS' website at http://www.arrisi.com/ . ARRIS is a global
communications technology company specializing in the design,
engineering and supply of technology supporting triple and
quad-play broadband services for residential and business customers
around the world. The company supplies broadband operators with the
tools and platforms they need to deliver reliable telephony, demand
driven video, next-generation advertising and high-speed data
services. ARRIS products expand and help grow network capacity with
access and outside plant construction equipment, reliably deliver
voice, video and data services and assure optimal service delivery
for end customers. Headquartered in Suwanee, Georgia, USA, ARRIS
has R&D centers in Atlanta, Chicago, Beaverton, State College,
Wallingford, Ireland and China, and operates support and sales
offices throughout the world. Information about ARRIS products and
services can be found at http://www.arrisi.com/ . Forward-looking
statements: Statements made in this press release, including those
related to: -- Revenue, gross margin, net income per share, orders,
order backlog and book-to-bill ratio; -- the outlook for the
remainder of 2008; -- the general market outlook and acceptance of
ARRIS products; and -- the timing of improvements in industry
conditions are forward-looking statements. These statements involve
risks and uncertainties that may cause actual results to differ
materially from those set forth in these statements. Among other
things, -- projected results for the second quarter 2008 as well as
the general outlook for 2008 and beyond are based on preliminary
estimates, assumptions and projections that management believes to
be reasonable at this time, but are beyond management's control; --
because the market in which ARRIS operates is volatile, actions
taken and contemplated may not achieve the desired impact relative
to changing market conditions and the success of these strategies
will be dependent on the effective implementation of those plans
while minimizing organizational disruption; -- several of the
substantial participants in our industry, including some of our
customers are in a weakened financial condition which could
directly or indirectly cause a reduced demand for our products or
other unexpected consequences, additionally, we cannot be certain
if or when the general uncertainty in our industry will stabilize
or improve. In addition to the factors set forth elsewhere in this
release, other factors that could cause results to differ from
current expectations include: the uncertain current economic
climate and its impact on our customers' plans and access to
capital; the impact of rapidly changing technologies; the impact of
competition on product development and pricing; the ability of
ARRIS to react to changes in general industry and market conditions
including regulatory developments; rights to intellectual property,
market trends and the adoption of industry standards; and
consolidations within the telecommunications industry of both the
customer and supplier base. These factors are not intended to be an
all-encompassing list of risks and uncertainties that may affect
the Company's business. Additional information regarding these and
other factors can be found in ARRIS' reports filed with the
Securities and Exchange Commission, including its Form 10-K for the
year ended December 31, 2007 and its Form 10-Q for the quarter
ended March 31, 2008. The Company expressly disclaims any
obligation to update publicly or otherwise these statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: ARRIS CONTACT: Jim Bauer, Investor Relations, of ARRIS,
+1-678-473-2647, Web site: http://www.arrisi.com/
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