CommScope Q2 Profit Tops View - Quick Facts

(RTTNews) - CommScope Holding Company, Inc. (COMM), a provider of connectivity and essential infrastructure solutions, Tuesday said its second-quarter net income rose to $46 million or $0.24 per share from $28 million or $0.15 per share in the previous year.

Adjusted net income for the quarter of 2015 was $95 million or $0.49 per share, while it totaled $139 million or $0.73 per share in the prior year.

On average, 14 analysts polled by Thomson Reuters expected earnings of $0.47 per share for the quarter. Analysts' estimates typically exclude special items.

Sales fell 19 percent to $867 million from $1.1 billion in the atypically robust second quarter of 2014. Analysts expected revenues of $879.76 million.

President and Chief Executive Officer Eddie Edwards said, "We delivered stronger sequential performance in all of our businesses, which was consistent with our outlook. We executed despite slow spending by certain North American wireless operators and foreign exchange rate headwinds."

For the third quarter, the company expects adjusted earnings per share of $0.45 - $0.50, and revenue of $850 million - $900 million. Analysts look for earnings of $0.57 per share on revenues of $980.72 milion.

On a standalone basis, CommScope expects full year earnings of $1.80 to $1.90 per share, assuming stable business conditions. Analysts expect earnings of $1.97 per share.