Arris Group Up 6.5% After Beating Estimates (ARRS)

Shares of Suwanee, Georgia-based Arris Group Inc.

are currently up 6.5% at $14.05 per share during Thursday afternoon trading. Today's trading range for shares of Arris Group Inc has been between $13.46 and a 52-week high of $14.49 per share. The consensus price target of analysts covering the company's stock is $10.53 per share. Volume of 3.8 million shares is already more than triple the daily average volume of 1.2 million shares. Arris Group Inc. (

) released financial results late on Wednesday that beat Wall Street estimates. Arris Group Inc reported 4th quarter adjusted earnings of 19 cents per share, on revenue of $266.2 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 17 cents per share, on revenue of $263.56 million. EVP & CFO David Potts said, "We are off to a good start in 2011. With respect to the first quarter 2011, we now project that revenues for the Company will be in the range of $260 to $280 million, with adjusted net income per diluted share in the range of $0.14 to $0.18 and GAAP net income per diluted share in the range of $0.05 to $0.09." Arris Group Inc is a global communications technology company specializing in the design, engineering and supply of technology supporting triple- and quad-play broadband services for residential and business customers around the world. Read more