11:07 AM EDT, 08/23/2024 (MT Newswires) -- Ubiquiti's ( UI ) fiscal fourth-quarter earnings rose year over year as revenue growth in the enterprise technology segment drove an annual increase in the consolidated top-line.

Adjusted per-share earnings rose to $1.74 for the quarter ended June 30 from $1.73 a year earlier, the networking infrastructure company said Friday. Revenue increased 3.3% year over year to $507.5 million.

The enterprise technology platform's revenue rose to $431.7 million from $404.1 million last year, while service provider technology fell to $75.7 million from $87 million.

GAAP gross margin decreased by 1.2 percentage point year over year to 40.2% due to higher shipping costs and inventory charges, offset in part by a favorable product mix and lower tariffs.

The company's sales, general and administrative expenses jumped to $21.7 million from $18.9 million last year.

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