Arris Group Up 6.5% After Beating Estimates (ARRS)

Shares of Suwanee, Georgia-based Arris Group Inc. (Nasdaq: ARRS) 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. (ARRS) 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 from Benzinga's Company news.