Shares of Ruckus Wireless Inc (NYSE:RKUS) plunged over 17% in after hours trading on Monday after it announced a drop in Q1 profit that also missed anticipates, hurt mostly by lesser than anticipated revenues and higher costs, reflecting delayed deployments by customers in Americas.
Sunnyvale, California-based Ruckus reports its Q1 profit plunged to $0.3M or breakeven per share from $3.7M or $0.03 a share previous year.
The adjusted earnings for the quarter plunged to $0.03 a share from $0.07 a share previous year. Analysts polled by Thomson Reuters predicted earnings of $0.04 a share. Analysts’ predicts typically exclude special items.
Shares of Ruckus Wireless Inc (NYSE:RKUS) opened at $18.90 with 74.36 million outstanding shares and touch its highest price of $19.00 of the day and then finished at $19.00 by scoring +5.15%, as in the whole session stocks gain volume of 783,046 shares which is higher than its average volume.
As the owner ship concerns stock institutional ownership remained 39.05% while insider ownership included 4.30%. The share capital of RKUS has 74.36 million outstanding shares amid them 63.31 million shares have been floated in market.
For investors focus on the performance of the stocks so the RKUS showed weekly behind performance of -2.31% which was maintained for the month at 6.80%. Correspondingly the negative performance for the quarter was remained -11.26% and if took notice on year to date performance halted at -15.67%.
As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the RKUS return on investment was recorded as 33.14% as compare to its rivals has Lexmark International Inc (NYSE:LXK)’s ROI 3.18%, Ruckus Wireless Inc (NYSE:RKUS)’s ROI 33.14%, Concurrent Computer Corp (NASDAQ:CCUR)’s ROI 4.66%, RadiSys Corporation (NASDAQ:RSYS)’s ROI -28.67%.
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