CommScope Lifts Q1 Outlook, Shares Surge

(RTTNews) - Network infrastructure company CommScope Holding Co., Inc. (COMM), Thursday lifted its financial outlook for the first quarter, sending its shares up 13 percent in extended trade on the Nasdaq.

Hickory, North Carolina-based CommScope now sees first-quarter adjusted earnings of $0.43 to $0.47 per share and revenues of $900 million to $925 million. Analysts currently expect first-quarter earnings of $0.38 per share on revenues of $876.12 million.

Initially, the company expected earnings of $0.36 to $0.40 per share on revenues of $860 million to $900 million.

CEO Mark Olson said, "We are very pleased to see strength in our wireless business. 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."

For the fiscal year 2014, the company expects to record low double-digit adjusted EPS growth, with sales growth in the mid-single digits.

Analysts currently expect earnings in the range of $1.69 per share and revenues of $3.66 billion for the year.

COMM closed Thursday's trading at $22.13, up $0.05 or 0.23%. The stock, further gained $2.81 or 12.70%, in after-hours trade.