Ubiquiti Q4 Profit Declines

(RTTNews) - Ubiquiti Inc. (UI) reported fourth quarter non-GAAP earnings per share of $1.54, a 37.7% decrease from prior year period. The company said it continued to experience a disruption in supply chain as a result of the COVID-19 pandemic and the global shortage of available components.

GAAP net income was $92.5 million, a decrease by 40.1% from last year. GAAP earnings per share was $1.53, a 37.8% decrease. Revenues were $443.1 million, a decrease from prior year period by 7.3%.

Looking forward, the company expects results to be negatively impacted until the ongoing supply chain and logistics issues caused by the global component supply shortage and the COVID-19 pandemic are resolved.

The Board declared a $0.60 per share cash dividend payable on September 13, 2022 to shareholders of record at the close of business on September 6, 2022.

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