CommScope Holding Company, Inc. Announces Executive Changes
Sep 11 14
On September 11, 2014, Thomas J. Manning was appointed to the Board of Directors of CommScope Holding Company, Inc. and to the Board’s Audit Committee. Mr. Manning will serve as a Class I director, which class will stand for re-election at the 2017 annual meeting of stockholders. Upon the appointment of Mr. Manning to the Board’s three-person Audit Committee, Campbell R. Dyer will no longer serve as a member of that committee. Mr. Manning has been a Lecturer in Law at The University of Chicago Law School, teaching courses on corporate governance, private equity and U.S.-China relations, since July 2012. Mr. Manning is also a Senior Advisor to The Demand Institute.
CommScope Enterprise Wireless Solution Ready for US Operator Trials
Sep 8 14
CommScope designed specifically for business enterprise applications is ready for US network operator trials. ION-E unified wireless infrastructure features multi-operator, multi-technology and multi-band capabilities and utilizes the structured cabling infrastructure common to most commercial buildings. The structured cabling architecture makes it easy for IT installers to deploy a comprehensive, future-ready RF solution. The ION-E can bring almost any wireless signal to any of its universal access points deployed inside an enterprise building, enabling Cloud-RAN.
CommScope Holding Company, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014
Jul 31 14
CommScope Holding Company, Inc. reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $1,066,256,000 against $940,859,000 a year ago. Operating income was $203,655,000 against $94,304,000 a year ago. Income before income taxes was $52,350,000 against $45,327,000 a year ago. Net income was $28,043,000 against $1,121,000 a year ago. Diluted per share was $0.15 against $0.01 a year ago. Non-GAAP operating income was $258.5 million against $184.2 million a year ago. Non-GAAP net income was $139.4 million against $92.6 million a year ago. Non-GAAP diluted EPS was $0.73 against $0.58 a year ago. Net cash used in operating activities was $13,388,000 against net cash generated from operating activities of $77,006,000 a year ago. Additions to property, plant and equipment was $9,516,000 against $9,495,000 a year ago. The company reported that adjusted net income and adjusted EPS rose substantially year-over-year, due mainly to strong Wireless performance, driven by higher sales volumes, a favorable shift in mix and the benefit from ongoing cost savings initiatives.
For the six months, the company reported net sales of $2,001,292,000 against $1,745,548,000 a year ago. Income before income taxes was $154,514,000 against $72,230,000 a year ago. Net income was $92,530,000 against $17,021,000 a year ago. Diluted per share was $0.49 against $0.11 a year ago. Non-GAAP operating income was $450.5 million against $316.4 million a year ago. Non-GAAP net income was $234.6 million against $147.4 million a year ago. Non-GAAP diluted EPS was $1.23 against $0.94 a year ago. Net cash used in operating activities was $48,877,000 against net cash generated from operating activities of $24,151,000 a year ago. Additions to property, plant and equipment was $16,191,000 against $16,027,000 a year ago.
For the third quarter of 2014, the company expects revenue of $970 million - $1.02 billion; adjusted operating income of $190 million - $210 million; adjusted earnings per diluted share of $0.53 to $0.58.
For the full year 2014, the company expects revenue of approximately $3.9 billion; adjusted effective tax rate of 35% - 37%; adjusted earnings per diluted share of $2.20 to $2.30.
CommScope Mulls Acquisitions
Jul 31 14
CommScope Holding Company, Inc. (NasdaqGS:COMM) is looking for acquisitions. Mark Olson, Executive Vice President and Chief Financial Officer of CommScope Holding Company, Inc. said, "We continue to expect to generate strong free cash flow this year, and our priorities for cash have not changed. As a reminder those priorities are first to grow the business both organically and through acquisition. Second, to reduce debt over the longer term, and then third, to consider other shareholder friendly actions."
CommScope Holding Company, Inc. Presents at 2014 Wells Fargo Small Cell Symposium, Jul-24-2014 01:15 PM
Jul 11 14
CommScope Holding Company, Inc. Presents at 2014 Wells Fargo Small Cell Symposium, Jul-24-2014 01:15 PM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States. Speakers: Morgan Kurk, Senior Vice President of Wireless.