CommScope blows out Q1 in wake of higher material costs, stronger segment sales
CommScope Inc. posted record sales of $352 million in Q1, a 14 percent year-over-year jump. Those numbers contributed to net income of $12.7 million (19 cents per diluted share).
CommScope said the rise in Q1 sales was driven by price increases related to higher raw material costs (the company cited "continuing volatility" in copper costs), as well as stronger sales volumes in the broadband and carrier segments.
International sales also ticked up 3.8 percent to $107.2 million, equal to about 30 percent of total company sales.
Though concerned about the volatile raw material environment, CommScope said it anticipates Q2 sales of between $390 million to $410 million.