CommScope 1Q 2019 Results Show Decrease in Sales

 

  • CommScope

HICKORY, NC — CommScope Holding Company, a global provider of infrastructure solutions for communications networks, reported results for the quarter ended March 31, 2019. 

Sales decreased 1.9 percent year over year as growth in the U.S. was more than offset by lower sales in the Europe, Middle East and Africa (EMEA) and Asia-Pacific regions. Sales benefited from the continued build out of 4G networks partially offset by a decline in Indoor Copper. Changes in foreign exchange rates unfavorably impacted net sales by approximately 2 percent. 

The company reported first quarter sales of $1.10 billion, a decrease of 1.9 percent compared to $1.12 billion during the same period in the prior year. CommScope generated a net loss of $2.3 million, or $(0.01) per basic share, a decrease from the prior year period's net income of $33.7 million, or $0.17 per diluted share.

ARRIS Acquisition to Create Future Growth
First quarter results do not include ARRIS, which CommScope acquired on April 4, 2019. ARRIS is expected to creating long-term growth opportunities. The acquisition is also expected to deliver near-term financial benefits including: 

  • 30 percent-plus accretion to adjusted EPS in the first full year following closing
  • Nearly $1 billion of cash flow from operations in the first full year
  • Annual cost synergies of at least $150 million within three years
  • Revenue synergies

 

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