Casa Systems (CASA) reported adjusted fourth-quarter earnings and revenue that topped views, sending shares up in late trading.
The company forecast full-year 2018 profit above analysts’ estimates, with its revenue outlook in-line with expectations.
Shares in the supplier of cable TV broadband network software rose 2.3% to 24.91 in after-hours trading on the stock market today. Casa went public on Dec. 15, pricing shares at 13.
Casa said earnings were $1.07 a share, with revenue rising 19% to $118 million. A year earlier, Casa earned $1.26 a share on sales of $99.2 million.
While its IPO diluted equity, adjusted net income rose 29% to $53.7 million, the company said. Analysts expected Casa to report earnings per share of 34 cents on sales of $101 million for the period ended Dec. 31.
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For 2018, Casa said it expects adjusted earnings in a range of $1.08 to $1.19 a share vs. estimates of $1.04. Casa forecast revenue in a range of $380 million to $395 million vs. estimates of $386 million.
The Andover, Mass.-based company, founded in 2003, says it offers a suite of “software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform at multigigabit speeds.”
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