CommScope Lifts Q2 Outlook; Reaffirms 2014 Outlook - Quick Facts

(RTTNews) - CommScope Holding Company Inc. (COMM), a provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks, said that it has raised its sales and earnings guidance for the second quarter of 2014. The company reaffirmed its calendar year 2014 guidance.

Looking ahead for the second-quarter, the company anticipates adjusted earnings per share to be in the range of $0.63 to $0.66, adjusted operating income of $235 million to $245 million, and sales of $1.025 billion to $1.050 billion. Analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share and revenues of $1.03 billion for the quarter. Analysts' estimates typically exclude special items.

The company said in April that it expected adjusted earnings per share to be in the range of $0.58 to $0.62, adjusted operating income of $215 million - $235 million, and revenue of $1.0 billion - $1.05 billion for the second-quarter.

As previously indicated, the company expects sales growth to moderate in the second half of the year as North American wireless operator spending patterns appear to be weighted more to the first half of the year.

The company reaffirmed its calendar year 2014 guidance.

For calendar year 2014, the company anticipates significant adjusted net income and adjusted earnings per share growth, adjusted operating margin expansion, and sales growth in the high single digits to low double digits. Street currently is looking for fiscal year 2014 earnings of $1.99 per share on annual revenues of $3.84 billion.

The second quarter and full year 2014 guidance assumes stable business conditions, and excludes the amortization of purchased intangibles, restructuring charges, costs associated with the recent debt transaction and other special items.