CommScope Beats Estimates In Q1

Lower revenue and higher restructuring costs widened the company's net loss, but earnings were enough to top the estimate of $0.10 a share.
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CommScope

(CTV) - Get Report

reported on April 28, 2009 that its Q1 FY09 net loss widened to $20.52 million or $0.29 per share from $11.05 million or $0.16 per share in Q1 FY08 due to lower revenue and higher restructuring costs. Excluding special items, earnings were $11.00 million or $0.14 per share, which topped the most recent consensus estimate of $0.10 per share.

Net sales decreased 26.2% to $742.25 million from $1.01 billion in Q1 FY08 due to global economic weakness. Antenna, Cable, and Cabinet sales declined 32.0% to $325.90 million. Enterprise sales slipped 31.9% to $144.00 million. Broadband sales plunged 15.7% to $114.20. Wireless Network Solutions sales dropped 12.0% to $159.00 million. International sales decreased 23.4% to $383.30 million. United States sales declined 28.8% to $359.00 million. External customer orders booked during Q1 FY09 stood at $778.80 million.

CommScope's Andrew brand signed a contract with Alcatel-Lucent Switzerland to provide radio frequency coverage solutions in the world's longest railway tunnel, the Gotthard Base Tunnel. CommScope Enterprise Solutions announced the launch of the SYSTIMAX 360 solution platform. The US Department of Agriculture's Rural Development Telecommunications Program has accepted Commscope's BrightPath fiber-to-home solution.

The company expects Q2 FY09 adjusted operating income of $100.00 million to $125.00 million on revenue between $800.00 million and $850.00 million.