U.S. Markets open in 2 hrs 49 mins

CommScope meets 4Q profit forecasts

HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Thursday reported fourth-quarter net income of $53.6 million.

On a per-share basis, the Hickory, North Carolina-based company said it had net income of 27 cents. Earnings, adjusted for one-time gains and costs, were 47 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 47 cents per share.

The wireless and broadband network technology company posted revenue of $1.12 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $1.11 billion.

For the year, the company reported profit of $193.8 million, or 98 cents per share. Revenue was reported as $4.56 billion.

For the current quarter ending in April, CommScope expects its per-share earnings to range from 44 cents to 49 cents.

The company said it expects revenue in the range of $1.09 billion to $1.14 billion for the fiscal first quarter.

CommScope expects full-year earnings in the range of $2.56 to $2.71 per share, with revenue ranging from $4.68 billion to $4.83 billion.

CommScope shares have increased nearly 3 percent since the beginning of the year. The stock has risen slightly in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COMM at https://www.zacks.com/ap/COMM