Investing.com - Ubiquiti Networks Inc's (NASDAQ:UBNT) shares soared to a record high on Thursday as investors cheered the company’s fourth quarter results and updated guidance.
The developer of performance networking technology for service providers and enterprises reported fiscal fourth-quarter net income of $60.7 million, or 74 cents a share, on sales of $228.6 million, up from $185.7 million a year ago. Adjusted earnings were 75 cents a share, up from 69 cents in the comparable period. Analysts on average expected Ubiquiti to report adjusted earnings of 74 cents a share on sales of $219 million.
For the current quarter the company is expecting revenue in the range of $230 million to $250 million, and for the full fiscal year ended June 30, 2018, revenue of $1.0 billion to $1.15 billion (up from $865.3 million in fiscal 2017), with diluted earnings per share of $3.70 to $4.30. Analysts are anticipating fiscal year earnings of $3.21 per share on revenue of $928.2 million.