Wireless and wireline network equipment provider Ubiquiti Inc UI reported fourth-quarter (Q4) FY23 revenue growth of 10.8% Y/Y to $491.1 million, beating the consensus of $483.41 million.
Revenue was led by growth in revenues from the Enterprise Technology platform, partly offset by lower Service Provider Technology platform revenue.
Gross profit rose to $203.3 million from $169.6 million a year ago, with margin expanding to 41.4% from 38.3% the prior year, led by lower shipping and component costs.
Adjusted EPS of $1.73, up from 1.54 a year ago, missed the consensus of $1.80.
As of July 30, cash and cash equivalents stood at $114.8 million.
Dividend: The board declared a dividend per share of $0.60, payable on Sept. 11 to shareholders of record on Sept. 5.
The company intends to pay regular quarterly cash dividends of at least $0.60 per share during each quarter of FY24.
Price Action: UI shares are trading lower by 2.58% at $150.00 premarket on the last check Friday.
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