What happened Shares of Ubiquiti Networks (NASDAQ: UBNT) have skyrocketed today, up by 20% as of 12:30 p.m. EDT, after the company reported better-than-expected fiscal fourth-quarter results. So what Revenue in the fourth quarter rose 23% to $228.6 million, driven by strong enterprise technology sales from increased adoption of Ubiquiti's UniFi products. Non-GAAP net income came in at $61 million, or $0.75 per share. Analysts were only expecting $0.69 per share in adjusted profits. Image source: Getty Images. Now what Gross margin contracted slightly to 45.1%, which Ubiquiti attributes to its strategy of aggressively pricing new products to grow market share before subsequently working on cost reductions to help profitability later. Ubiquiti finished the quarter with $604.2 million in cash and cash equivalents, of which $546.8 million was located abroad. Looking ahead, the company's outlook calls for revenue of $230 million to $250 million in the fiscal first quarter of 2018, with GAAP earnings per share of $0.80 to $0.90. For full-year 2018, sales are expected in the range of $1 billion to $1.15 billion, with earnings per share of $3.70 to $4.30. That bottom-line forecast for next fiscal year utterly crushed the consensus estimate of $3.08 per share. 10 stocks we like better than Ubiquiti NetworksWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Ubiquiti Networks wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of August 1, 2017Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Ubiquiti Networks. The Motley Fool has a disclosure policy.