UBNT - Ubiquiti Networks

[chrispy]

Switching to NYSE listing, most likely because of the listing requirement. They also announced today 0.5b worth of shares to be repurchased which is about 1/3 of the float not owned by Pera

[rkbabang]

Another amazing quarter.  Stock way up today.
https://www.businesswire.com/news/home/20191108005150/en/Ubiquiti-Reports-Quarter-Fiscal-2020-Financial-Results

Revenues of $323.3 million, increasing 14.3% year-over-year
GAAP diluted EPS of $1.43, increasing 23.3% year-over-year
Non-GAAP diluted EPS of $1.44, increasing 23.1% year-over-year
Repurchased 3,635,534 shares of common stock at an average price of $114.49 per share during the quarter and an additional 995,495 shares of common stock at an average price of $120.11 subsequent to September 30, 2019

[chrispy]

Great quarter.

Pera does his own thing and it has worked. Long term shareholders have been rewarded.

[gjangal]

not a shareholder currently , but hat tip to RJP for executing and pushing ahead with his vision. Buybacks have been timely and minority shareholder friendly.

[chrispy]

The shares arent necessarily expensive now although I am not buying here. New line of products released, trading at 30PE with 20 percent growth, small amount of publicly traded shares that will be bought back, shorts will have to cover. Pera is an inventor who makes products people use to build businesses and can keep r&d low.

They continue to move up market

[chrispy]

http://otp.investis.com/clients/us/ubiquiti_networks_inc/usn/usnews-story.aspx?newsid=70243&cid=2283

"Repurchased 5,842,800 shares of common stock at an average of $119.45 per share"

The market value is ~50% greater than the average purchase price paid for ~5% of the company this year.  Pera has been remarkably steady and timely with share repurchases.  He is close to 80% ownership now.

I do wish Pera would provide an annual letter to shareholders

[rkbabang]

http://otp.investis.com/clients/us/ubiquiti_networks_inc/usn/usnews-story.aspx?newsid=70243&cid=2283

"Repurchased 5,842,800 shares of common stock at an average of $119.45 per share"

The market value is ~50% greater than the average purchase price paid for ~5% of the company this year.  Pera has been remarkably steady and timely with share repurchases.  He is close to 80% ownership now.

I do wish Pera would provide an annual letter to shareholders

A letter would be nice, but it is more important that he just keep doing what he's been doing.  Actions speak louder than words. How many CEOs make a big deal about share repurchase at the top of the market only to suspend them as soon as the price drops a little bit? 

[chrispy]

I completely agree and glad he is willing to be unique, shun terrible analysts, and do a terrific job.  Just interested in his thoughts on the industry and UI but I guess their product line tells the story

[chrispy]

Article on Pera buying properties (nothing more then entertainment here)

Grizzlies Owner Robert J. Pera Goes Coast to Coast Buying Trophy Homes https://www.wsj.com/articles/grizzlies-robert-pera-homes-11602783796

[rkbabang]

Article on Pera buying properties (nothing more then entertainment here)

Grizzlies Owner Robert J. Pera Goes Coast to Coast Buying Trophy Homes https://www.wsj.com/articles/grizzlies-robert-pera-homes-11602783796

Thanks for the article.  Pera is definitely a character. 

"Mr. Pera's company ultimately filed plans for a residence on the site by Seattle architect Eric Cobb, which called for a 17,000-square-foot, 70-foot-high building made largely of glass and granite. Community Board 1's Landmarks and Preservation Committee initially rejected the proposal late last year, but later approved a modified version, according to Bruce Ehrmann, chair of the committee who had criticized the original design as hostile.

"The original proposal was intended to shelter whoever was the purchaser from the neighborhood," Mr. Ehrmann said. "The lower levels looked like the ramparts of a medieval fort.""