CommScope posts Q1 loss
CommScope, which provides network infrastructure products for communications networks, posted a loss of $22.1 million in the first quarter, compared with a loss of $20.5 million in the same quarter a year ago.
CommScope’s revenue dropped 3 percent from $742.3 million to $721.6 million, which the company attributed to lower capital spending by customers in the Asia Pacific (APAC) and Europe, Middle East and Africa (EMEA) regions.
“Looking ahead, we are encouraged by prospects for continued economic growth and strengthening North American wireless capital spending,” CommScope Chairman and CEO Frank Drendel said. “We expect strong improvement in second-quarter sales and adjusted operating income, excluding restructuring and any other special items.”
CommScope expects second-quarter revenue of $800 million to $850 million, which exceeded analysts’ average estimates of $793.4 million.