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Ubiquiti Networks Reports Q3 Fiscal 2013 Results

  • Revenues of $83.2 million, an increase of 11% from the prior quarter
  • Second consecutive quarter of double-digit sequential growth in total and airMAX revenues
  • Non-GAAP operating profitability of $24.2 million, an increase of 15% from the prior quarter
  • $35.2 million in net cash provided by operating activities
  • Quarterly GAAP Diluted EPS of $0.23 and Non-GAAP Diluted EPS of $0.24

SAN JOSE, Calif., May 9, 2013 (GLOBE NEWSWIRE) -- Ubiquiti Networks, Inc. (Nasdaq:UBNT) ("Ubiquiti"), a product-driven technology company for end-to-end networking solutions, today announced results for the third quarter of fiscal 2013, ended March 31, 2013.

For the third quarter of fiscal 2013, Ubiquiti reported revenues of $83.2 million, a decrease of 9% compared to revenues of $91.7 million for the same period the prior year and an increase of 11% compared to the prior quarter. For the nine months ended March 31, 2013 Ubiquiti reported revenues of $219.6 million, a decrease of 15% compared to revenues of $258.6 million for the same period in the prior year.

For the third quarter of fiscal 2013, GAAP net income was $20.7 million, a decrease of 26% compared to GAAP net income of $27.9 million for the same period the prior year and an increase of 16% from the prior quarter. Non-GAAP net income was $21.1 million, a decrease of 25% compared to $28.1 million for the same period last year and an increase of 15% compared to the prior quarter.

For the nine months ended March 31, 2013, GAAP net income was $51.6 million, a decrease of 30% compared to GAAP net income of $74.1 million for the same period in the prior year. Non-GAAP net income was $53.0 million, a decrease of 29% compared to $74.7 million for the same period in the prior year.

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