CommScope: 4Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Thursday reported a fourth-quarter loss of $23.3 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Hickory, North Carolina-based company said it had a loss of 12 cents. Earnings, adjusted for one-time gains and costs, came to 51 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The wireless and broadband network technology company posted revenue of $1.06 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.05 billion.
For the year, the company reported profit of $140.2 million, or 72 cents per share. Revenue was reported as $4.57 billion.
For the current quarter ending in April, CommScope expects its per-share earnings to range from 41 cents to 46 cents.
The company said it expects revenue in the range of $1.06 billion to $1.11 billion for the fiscal first quarter.
CommScope expects full-year earnings in the range of $2.10 to $2.25 per share, with revenue ranging from $4.51 billion to $4.66 billion.
CommScope shares have increased 43 percent since the beginning of the year. The stock has fallen 40 percent in the last 12 months.