CommScope Raises Sales and Earnings Guidance to Reflect Strengthening Wireless Business
"We are very pleased to see strength in our wireless business," said
First Quarter 2014 Guidance:
$900 millionto $925 million, up 13 percent year over year at the midpoint of the range.
Adjusted operating income of
$175 millionto $185 million, up 36 percent year over year at the midpoint of the range.
Adjusted earnings per diluted share of
$0.43to $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:
- Sales growth in the mid-single digits
- Adjusted operating margins up modestly
- Adjusted effective tax rate trending toward long-term target of 35% - 37%
- Double-digit adjusted net income growth
- Low double-digit adjusted EPS growth, reflecting the higher year-over-year share count
Non-GAAP Financial Measures
Forward Looking Statements
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