Network Equipment Provider Ubiquiti Posts Mixed Q4 Results, Plans Regular Dividend Payout

Wireless and wireline network equipment provider Ubiquiti Inc UI reported fourth-quarter (Q4) FY23 revenue growth of 10.8% Y/Y to $491.1 million, beating the consensus of $483.41 million.

Revenue was led by growth in revenues from the Enterprise Technology platform, partly offset by lower Service Provider Technology platform revenue.

Gross profit rose to $203.3 million from $169.6 million a year ago, with margin expanding to 41.4% from 38.3% the prior year, led by lower shipping and component costs.

Adjusted EPS of $1.73, up from 1.54 a year ago, missed the consensus of $1.80.

As of July 30, cash and cash equivalents stood at $114.8 million.

Dividend: The board declared a dividend per share of $0.60, payable on Sept. 11 to shareholders of record on Sept. 5.

The company intends to pay regular quarterly cash dividends of at least $0.60 per share during each quarter of FY24.

Price Action: UI shares are trading lower by 2.58% at $150.00 premarket on the last check Friday. 

See Also: 'Magnificent 7' Tech Bubble To Burst With 'Higher-For-Longer' Rates