Earnings are definitely a touchy subject for a corporate blog (anything financial is), so I decided just to cut and paste the relevant info from the official earnings release. The Connected Home Solutions group hit some impressive milestones this quarter including nearly 5 million digital devices shipped and over a million DVRs.
Connected Home Solutions segment sales were $1.0 billion, up 42 percent compared with the year-ago quarter. Excluding highlighted items, operating earnings were $113 million, compared with operating earnings of $47 million in the year-ago quarter. Operating margin, excluding highlighted items, was 10.9 percent compared to 6.4 percent in the year-ago quarter.
During the quarter, Connected Home Solutions:
- Achieved double-digit growth in sales and operating margin
- Set a quarterly record with 4.9 million digital entertainment device shipments, including shipments of 1.1 million digital video recorders
- Shipped the company’s one millionth IPTV set top
- Reached the 500,000 video stream milestone, shipping to service providers worldwide
- Completed the acquisitions of Netopia and Tut Systems
- Following the close of the quarter, began shipping digital cable set-tops that support FCC-mandated separable security