HICKORY, N.C. -- CommScope Holding Company, Inc. (COMM), a global provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks, today raised its sales and earnings guidance for the first quarter of 2014.
“We are very pleased to see strength in our wireless business,” said Mark Olson, CommScope executive vice president and chief financial officer. “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.”
CommScope management provided the following first quarter and full year 2014 guidance, which excludes the amortization of purchased intangibles, restructuring and other special items:
First Quarter 2014 Guidance:
Sales of $900 million to $925 million, up 13 percent year over year at the midpoint of the range.
Adjusted operating income of $175 million to $185 million, up 36 percent year over year at the midpoint of the range.
Adjusted earnings per diluted share of $0.43 to $0.47, up 29 percent year over year at the midpoint of the range. The first quarter earnings range assumes 191 million weighted average diluted shares outstanding.
Calendar Year 2014 Guidance:
The company expects the improved first quarter outlook to positively influence calendar year 2014 results and provided the following updated calendar year guidance:
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