CommScope Holding Company, Inc. (NASDAQ:COMM) reports 2Q18 Topline up 6%; Tops Estimate; Issues Outlook

CommScope Holding Company, Inc. (NASDAQ:COMM) provider of infrastructure for communications networks reported net income for the second quarter of $ 65.92 million or $ 0.34 per share, compared to income of $ 55.46 million or $ 0.28 per share for the year-ago quarter.

The company reported second quarter Non-GAAP adjusted income of $ 133.10 million or $ 0.68 per share.

The topline results for the second quarter rose 6% to $ 1.24 billion from $ 1.17 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected CommScope Holding to report income of $ 0.65 per share on revenue of $ 1.23 billion for the second quarter.

President and CEO, Eddie Edwards, commented, The strong year-over-year growth in North America in our Mobility segment and Outdoor Network Solutions business reflects our industry-leading technology, scale and customer relationships. We remain committed to identifying and pursuing opportunities to drive solid growth in core and adjacent markets through innovation and accretive acquisitions.

Moving forward, Hickory, North Carolina based company expects 3Q18 earnings of $0.63 to $0.68 per share, while net sales for the same period to be $1.19 billion to $1.24 billion.

At the same time, COMM anticipates full year 2018 earnings of $2.33 to $2.48 per share, where as net sales for the full year expected to be $4.675 billion to $4.825 billion.

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