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Why CommScope (COMM) Hit An All-Time High Today

NEW YORK (TheStreet) -- CommScope  (COMM) hit an all-time high of $24 on Friday after the telecommunications company reported its fourth quarter results.

Adjusted net income grew 9% to $54 million, or 30 cents per diluted share, for the quarter. Analysts polled by Thomson Reuters expected EPS of 29 cents. Sales dipped slightly to $847 million from $848 million, though this total exceeded analysts' expectations of $820.45 million. Orders increased 8% year over year to $916 million, while adjusted operating income increased 13% to $141 million, which accounted for 17 percent of sales.

For the full year, adjusted net income soared 42% to $262 million, or $1.60 per diluted share, while cash flow from operations totaled $238 million and adjusted free cash flow totaled $254 million.

CommScope issued guidance for the full year 2014 and expects revenue in the range of $860 million to $900 million, adjusted operating income of $145 million to $165 million and adjusted earnings per diluted share of 36 cents to 40 cents. Analysts expect EPS of 30 cents on revenue of $818.23 million.

"We are pleased to deliver another solid quarter following our recent initial public offering," said President and CEO Eddie Edwards in the company's statement. "We exited 2013 with positive momentum with particular strength in our Wireless business. These positive business trends position us well as we move into the first quarter."

Must Read: Market Hustle: Dow Rises on Reported Ukraine Deal, Weather Blamed for Poor U.S. Housing

COMM Chart

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Stock quotes in this article: COMM 

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