Arris chairman and CEO Bob Stanzione has welcomed record first quarter revenues ahead of the acquisition of Motorola Home.
“Our record first quarter revenues reflect the culmination of a decade of growth during which Arris revenues have tripled. I am looking forward to continued growth now that we have closed our acquisition of Motorola Home. We welcome all of our new employees to the Arris team. The combination will be very powerful for our customers and shareholders,” Stanzione said in a statement.
Revenues for the first quarter of 2013 include a $13.2 million reduction related to Comcast’s investment in Arris associated with the Company’s acquisition of Motorola Home, which closed on April 17, 2013.
Prior to the adjustment, revenues were $366.8 million. Including the adjustment, revenues were $353.7 million as compared to first quarter 2012 revenues of $302.9 million and as compared to fourth quarter 2012 revenues of $344.0 million.