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ARRS $11~ $14~$12.75 beats by $0.05, guides for Q1 (ARRS) : Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.05 better than the Reuters Estimates consensus of $0.19; revenues rose 40.0% year/year to $181.3 mln vs the $185 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.19-0.23, ex items vs. $0.16 consensus; sees Q1 revs of $185-200 mln vs. $179.07 mln consensus.
Arris tgt raised to $14 from $10 at Needham (ARRS) 11.19 : Needham raised their tgt to $14 from $10 citing that cable modem CPE businesses do not traditionally yield a high multiple on Wall Street, with gross margins around 20% which may decline materially. They also note a meaningful portion of ARRS' current revenue comes from constant bit rate cable telephony products, which will be replaced over time by IP telephony, whether PacketCable or S.I.P.
Arris tgt raised to $14 from $10 at Needham (ARRS) 11.19 : Needham raised their tgt to $14 from $10 citing that cable modem CPE businesses do not traditionally yield a high multiple on Wall Street, with gross margins around 20% which may decline materially. They also note a meaningful portion of ARRS' current revenue comes from constant bit rate cable telephony products, which will be replaced over time by IP telephony, whether PacketCable or S.I.P.
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