Our target has been reached in UBNT of $37 thanks to a positive earnings announcement. Below are some highlights of the earnings report. We know a few members were in this trade either with the stock or via long calls. If you would like to write about your trade and the lessons let us know, we would be happy to share your story!
~ Achieves Record Revenue and Earnings ~
~ Non-GAAP Diluted EPS of $0.63 Per Share ~
SAN JOSE, Calif., May 05, 2016 (GLOBE NEWSWIRE) -- Ubiquiti Networks, Inc. (NASDAQ:UBNT) ("Ubiquiti" or the "Company") today announced results for the third fiscal quarter of 2016, ended March 31, 2016.
Third Quarter Fiscal 2016 Financial Summary
- Revenues of $167.4 million
- GAAP gross profit of $82.5 million and non-GAAP gross profit of $82.4 million
- GAAP net income of $52.7 million and non-GAAP net income of $53.0 million
- GAAP diluted EPS of $0.62 and non-GAAP diluted EPS of $0.63
- Cash of $502.5 million, up 11% year-over-year