Arris Reports Mixed Results4/22/2004 6:34 AM Eastern
Arris Group Inc. generated first-quarter revenue of $111.6 million compared with $91.3 million in the year-earlier period, but its net loss widened to $18.7 million versus a profit of $3.4 million in the first quarter of 2003.
The year-earlier figures were boost by a one-time gain related to the debt retirement of Nortel Networks Corp.'s membership interest, Arris said.
Broadband revenue climbed 18.7% year-over-year from $60.8 million to $72.1 million.
"Performance during the quarter was generally in line with our expectations, and I am encouraged by our order backlog," chairman and CEO Bob Stanzione said in a prepared statement.
"We continue to be very optimistic about the implementation of new VoIP [voice-over-Internet-protocol] services by our customers both domestically and internationally," he added.