Ubiquiti Networks reports Q2 financial results

Ubiquiti Networks, Inc. (NASDAQ:UBNT) has announced results for the second fiscal quarter of 2018, ended December 31, 2017, the company said.

Revenues of USD 250.8 million, increased 17.5% year-over-year;

GAAP showed net loss of USD 51.5 million and GAAP loss per share of USD 0.66;

Net loss due to the Tax Cuts and Jobs Act, which resulted in a USD 110.7 million tax expense;

Non-GAAP net income of USD 59.6 million and non-GAAP diluted EPS of USD 0.76.

Ubiquiti Networks, Inc. currently focuses on three main technologies: high-capacity distributed Internet access, unified information technology, and next-gen consumer electronics for home and personal use. The majority of the company´s resources consist of entrepreneurial and de-centralized R&D teams. Ubiquiti does not employ a traditional direct sales force, but instead drives brand awareness largely through the company´s user community where customers can interface directly with R&D, marketing, and support.