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Ubiquiti Networks soars 20% to record, making CEO $600 million richer

Ubiquiti Networks Inc. UBNT, +16.56% shot more than 20% higher in Thursday trading after reporting earnings with a forecast that blew away projections, making Chief Executive Robert Pera more than $600 million richer. The networking company reported fiscal fourth-quarter net income of $60.7 million, or 74 cents a share, on sales of $228.6 million, up from $185.7 million a year ago. After adjustments for stock-based...