CommScope: 4Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Thursday reported a loss of $436.7 million in its fourth quarter.
On a per-share basis, the Hickory, North Carolina-based company said it had a loss of $2.32. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The wireless and broadband network technology company posted revenue of $2.3 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.29 billion.
For the year, the company reported a loss of $929.5 million, or $5.02 per share, swinging to a loss in the period. Revenue was reported as $8.35 billion.
For the current quarter ending in April, CommScope expects its per-share earnings to range from 3 cents to 18 cents.
The company said it expects revenue in the range of $1.9 billion to $2.1 billion for the fiscal first quarter.
CommScope shares have climbed 2% since the beginning of the year. The stock has fallen 37% in the last 12 months.