Boston, MA, 03/14/2014 – Ubiquiti Networks Inc (NASDAQ:UBNT), an International telecom vendor, reported an earnings bonanza in 2013 and is looking forward optimistically at 2014. It forecasts high demand for its products in the coming time.
Impressive Q4 Results
After the San Jose, California based company announced its earnings report on Feb 6, the stock has surged 12% higher this week. Its fourth quarter results for the year ended Dec 31, 2013, outdid expectations of the Wall Street on Wi-Fi sales in developing markets. Ubiquity earned 48 cents a share which marks an increase of 140% from the results of the same quarter in the previous year, on revenue of $138.4 million. Its top line increased by 85%.
For this quarter, Ubiquiti Networks Inc (NASDAQ:UBNT) has forecasted earnings per share in the range of 47 to 51 cents and revenue to be between $138 million and $144 million.
The World Network
Ubiquiti Networks Inc (NASDAQ:UBNT) seeks to fill up the digital gap by creating network communications platforms and providing for everyone at all possible locations. The company sees instability in emerging markets and risk involved in global economic recovery as potential hurdles. But, the seller of wireless networking products to big companies and rural Internet Service Providers has an optimistic approach towards its endeavor. This, it justifies on account of the continuously increasing high demand from underserved markets which marks potential for more and more growth for it.
Ubiquiti Networks Inc (NASDAQ:UBNT) has announced its plans of launching a widely spread wireless Internet platform for the people. It calls it as the Ubiquity World Network, and it will be a collaboration of ISPs from across the world. In this context, its Chairman and Chief Executive officer, Robert Pera, said that the company envisions bringing together all the countries of the world or at least most of them through the world Network. He expects the platform to grow rapidly in the next couple of years.