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.
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