CommScope Slips To Loss In Q4

(RTTNews) - CommScope Holding Company Inc. (COMM) reported a fourth-quarter net loss of $23 million, or $0.12 per share, compared to net income of $54 million, or $0.27 per share last year.

Non-GAAP adjusted net income for the fourth quarter of 2018 was $100 million, or $0.51 per share, compared to $91 million, or $0.47 per share in the previous year. Sales were $1.06 billion down from $1.12 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share and revenues of $1.06 billion. Analysts' estimates typically exclude special items.

Looking ahead for first-quarter 2019, the company expects earnings per share of $0.10 - $0.13, Non-GAAP adjusted earnings per diluted share of $0.41 - $0.46, and revenue of $1.055 billion - $1.105 billion. Analysts expect the company to report earnings of $0.43 per share and revenues of $1.07 billion for the first-quarter.

For fiscal year 2019, the company earnings per share of $0.92 - $1.03, adjusted earnings per share of $2.10 - $2.25 and revenue of $4.505 billion - $4.655 billion.

Wall Street currently is looking for fiscal year 2019 earnings of $2.14 per share on annual revenues of $4.53 billion.

"We continue to expect modest growth and relatively stable year-over-year results in 2019," said Executive Vice President and Chief Financial Officer Alex Pease.