CommScope beats estimates
CommScope Inc. turned in a solid Q4, posting sales of $393.7 million, up from $345 million a year earlier. The company also recorded net income of $27.2 million (38 cents per diluted share), versus $16.6 million (25 cents per diluted share) a year earlier.
CommScope beat analyst expectations of a 36 cent profit and $384 million in sales.
The company said the 13.9 percent year-over-year sales increase was buoyed by higher prices and increased customer demand in the enterprise and broadband segments. On the latter, broadband sales rose 20.7 percent, to $144 million, thanks to surging competition between cable operators and telcos, the company said.
Looking ahead, the company expects to post Q1 revenue in the range of $390 million to $410 million.