CommScope, which supplies connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks, boosted its sales and earnings guidance for the first quarter of 2014. The company cited stronger sales with mobile operators.
“We are very pleased to see strength in our wireless business,” said Mark Olson, CommScope executive vice president and chief financial officer. “North American wireless operators continue to invest in our macro cell site and small cell distributed antenna system (DAS) solutions to improve network coverage and capacity. We are also seeing ongoing modernization of 3G wireless networks around the globe.”
The company provided the following Q1 2014 guidance:
- Sales of $900 million to $925 million, up 13 percent year over year at the midpoint of the range.
- Adjusted operating income of $175 million to $185 million, up 36 percent year over year at the midpoint of the range.
- Adjusted earnings per diluted share of $0.43 to $0.47, up 29 percent year over year at the midpoint of the range. The first quarter earnings range assumes 191 million weighted average diluted shares outstanding.