CommScope, Inc. has reported second quarter sales of US$411.9 million and net income of US$46.6 million, or US$0.65...
July 27, 2006
CommScope, Inc. has reported second quarter sales of US$411.9 million and net income of US$46.6 million, or US$0.65 per diluted share.
The reported net income includes an after-tax gain of US$18.6 million related to a recovery on a note receivable from OFS Bright Wave, LLC and after-tax charges of US$2.6 million related to restructuring costs. Excluding these special items, adjusted second quarter earnings were US$30.6 million, or US$0.43 per diluted share.
For the second quarter of 2005, CommScope reported sales of US$336.7 million and net income of US$16.3 million, or US$0.25 per diluted share.
“We are pleased with the strong revenue and earnings growth that we delivered in the second quarter,” said Frank Drendel, CommScope chairman and CEO.
“We are particularly proud of the turnaround we executed in the Carrier segment. Through reorganization, focus on productivity and effectiveintegration, we transformed a business that had significant historical losses to our highest margin segment in only two years.”