Ubiquiti Networks, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2011. For the quarter, the company reported net income of $24,691,000, net income attributable to basic common stockholders was $14,428,000 or $0.16 per share, net income attributable to diluted common stockholders was $14,443,000 or $0.16 per share on revenues of $87,817,000 against net income of $10,978,000, net income attributable to basic common stockholders was $4,037,000 or $0.06 per share, net income attributable to diluted common stockholders was $4,122,000 or $0.06 per share on revenues of $45,087,000 a year ago. Income from operations was $31,176,000 compared to $13,680,000 a year ago. Income before provision for income taxes was $30,864,000 compared to $13,714,000 a year ago. Non-GAAP net income was $24,902,000 or $0.27 per diluted share compared to $11,120,000 or $0.11 per diluted share a year ago. For the six months, the company reported net income of $46,184,000, net loss attributable to basic common stockholders was $66,247,000 or $0.88 per share, net loss attributable to diluted common stockholders was $66,247,000 or $0.88 per share on revenues of $166,984,000 against net income of $18,559,000, net income attributable to basic common stockholders was $7,762,000 or $0.12 per share, net income attributable to diluted common stockholders was $7,918,000 or $0.12 per share on revenues of $79,169,000 a year ago. Income from operations was $58,676,000 compared to $23,148,000 a year ago. Income before provision for income taxes was $57,730,000 compared to $23,189,000 a year ago. Non-GAAP net income was $46,605,000 or $0.50 per diluted share compared to $18,810,000 or $0.18 per diluted share a year ago. The company currently believes the demand environment in its end markets supports the following forecast for the company's fiscal third quarter ending March 31, 2012: Revenues of $89 million to $91 million; GAAP Diluted EPS of $0.27 to $0.28; and Non-GAAP Diluted EPS of $0.27 to $0.28.