CommScope Reports 3Q Results

HICKORY, N.C., Nov. 4 -- CommScope, Inc. (NYSE: CTV) today reported third quarter results for the period ended September 30, 2002. CommScope reported sales of $147.8 million and a net loss of $19.6 million or $0.32 per share for the third quarter. The loss included noncash impairment charges of $0.26 per share and after-tax equity in losses of OFS BrightWave, LLC of $0.10 per share, which are discussed below.

For the same period last year, net income was $6.3 million and earnings were $0.12 per diluted share. Third quarter 2001 results included pretax charges of $9.3 million or $0.11 per diluted share, net of tax, related to the financing and formation of the original joint venture arrangements with The Furukawa Electric Co., Ltd. of Japan (Tokyo: 5801), which were subsequently restructured.

CommScope's sales for the third quarter were $147.8 million compared to $177.7 million in the year-ago quarter and $155.0 million in the second quarter of 2002. Third quarter 2002 domestic sales were stable sequentially at $120.8 million largely due to strong sales to AT&T Broadband, but declined from $143.4 million in the prior year primarily due to lower sales to Adelphia as well as lower sales of fiber optic cable and wireless products. International sales for the third quarter were $27.0 million, compared to $33.9 million in the second quarter and $34.3 million in the third quarter of 2001.

Orders booked in the third quarter of 2002 were $145.5 million, compared to $141.6 million in the same quarter last year and $157.2 million in the second quarter of 2002.

CommScope Inc. (NYSE: CTV)