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On February 26, 2009,
reported a net loss in Q4 FY08 due to the inclusion of a $397.09 million charge related to impairment of goodwill and other intangible assets. Net loss was $342.38 million or $4.86 per share, compared to a profit of $37.58 million or $0.51 per share in Q4 FY08. Excluding special items, earnings were $43.60 million or $0.55 per share, which topped the consensus estimate of $0.53 per share.
Net revenue surged 86.3% to $861.79 million from $462.56 million in Q4 FY08 a year ago. However, on a combined pro-forma basis including Andrew's actual sales for Q4 FY07, sales declined 14.6% to $861.80 million from $1.01 billion a year ago. Excluding the negative impact of changes in foreign currency of $24.80 million and adjusting for the divestiture of the Satellite Communications (SatCom) product line, sales declined 10.0% year-over-year. International sales decreased 5.4% to $459.80 million, while United States sales declined 22.9% to $403.40 million.
Antenna, Cable, and Cabinet Group (ACCG) sales dipped 12.2% to $386.30 million, while Enterprise segment sales slipped 11.3% to $194.10 million. The Broadband segment's sales decreased 13.1% to $132.60 million, while Wireless Network Solutions (WNS) sales plunged 24.0% to $150.20 million. External customer orders booked in Q4 FY08 were $753.00 million.
Recently, CommScope Inc.'s Andrew brand signed a contract with Alcatel-Lucent Switzerland to provide radio frequency (RF) coverage solutions in the world's longest railway tunnel, the Gotthard Base Tunnel in Switzerland.
During FY08, CommScope incurred a net loss of $228.52 million or $3.29 per share compared to a net profit of $204.84 million or $2.78 per share in FY07. Annual revenue more than doubled to $4.02 billion from $1.93 billion a year earlier.
Looking forward to Q1 FY09, CommScope expects to report a net loss on a GAAP basis on revenue between $720.00 million to $770.00 million.