Monday, January 28, 2019

CommScope's preliminary Q4 results top expectations

CommScope reported preliminary results for Q4 2018 of $1.045 to $1.070 billion, inline or above the company's guidance. Full-year sales are now expected in the $4,555 to $4,580 range.  Full results are expected on February 21, 2019

“We delivered preliminary results in line with or above our expectations in the fourth quarter of 2018,” said President and Chief Executive Officer Eddie Edwards. “These results benefited from stronger than expected sales volumes, favorable product and geographic mix, along with our ongoing initiatives to align the company’s cost structure with the current market environment. For 2019, we continue to expect modest growth and relatively stable year-over-year results, which reflect anticipated cautious spending patterns by large North American operators. We are pleased that the disciplined execution of our strategic plan enabled a stronger than expected finish to 2018 and established a solid foundation to build on as we work toward the completion of the ARRIS acquisition.”

CommScope also said the positive results should support its financing efforts related to its acquisition of ARRIS International plc.