CommScope reports fourth quarter 2017 results
CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in infrastructure solutions for communications networks, reported sales of $1.12 billion and net income of $54 million, or $0.27 per diluted share, for the quarter ended December 31, 2017. Non-GAAP adjusted net income for the fourth quarter of 2017 was $91 million, or $0.47 per diluted share. A reconciliation of reported GAAP results to non-GAAP results is attached. In comparison, for the quarter ended December 31, 2016, CommScope reported sales of $1.18 billion and net income of $54 million, $0.28 per diluted share. Non-GAAP adjusted net income for the fourth quarter of 2016 was $121 million, or $0.61 per diluted share.
“We are pleased to deliver fourth quarter results consistent with our expectations despite lingering volatility in customer order patterns and near-term raw material cost pressures,” said President and Chief Executive Officer Eddie Edwards. “While 2017 was challenging across the industry, we made significant progress in strengthening CommScope for the long term. During the year, we substantially completed a complex systems integration, delivered on significant product development, extended a long-term optical fiber supply partnership and achieved our capital allocation priorities of strategically reinvesting in the business while repaying debt and returning capital to shareholders.