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Ubiquiti Fiscal Q2 Adjusted Earnings Grow, Flags COVID-19 Disruption In Supply Chain

· 02/05/2021 02:42

07:35 AM EST, 02/05/2021 (MT Newswires) -- Ubiquiti (UI) reported Friday fiscal Q2 adjusted earnings of $2.53 per diluted share, up from $1.40 a year earlier.

Analysts polled by Capital IQ expected $1.77 a share.

Revenue for the quarter totaled $479.4 million, up from $308.3 million, led by growth in North America and Europe, the Middle East and Africa. Analysts polled by Capital IQ expected revenue of $364 million.

The company said it continued to experience a disruption in its supply chain due to the COVID-19 pandemic. As a result, it has incurred and continues to incur costs to expedite deliveries of components and services.

While our ability to procure components and services has improved during the quarter, the disruptions in our supply chain have not been fully remediated and the effects, if any, of the COVID-19 pandemic may not be fully reflected in the Company's financial results until future periods," Ubiquiti said.

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