CommScope: 4Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Wednesday reported fourth-quarter net income of $23.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Hickory, North Carolina-based company said it had profit of 5 cents. Earnings, adjusted for one-time gains and costs, were 59 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The wireless and broadband network technology company posted revenue of $2.13 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $2.2 billion.
For the year, the company reported that its loss narrowed to $573.4 million, or $3.20 per share. Revenue was reported as $8.44 billion.
CommScope shares have increased 18% since the beginning of the year. The stock has increased 10% in the last 12 months.