CommScope Holding Company, Inc. - COMM STOCK NEWS

CommScope Holding Company (NASDAQ: COMM) announced its subsidiary intends to offer $1,250 million in senior secured notes due 2029, aimed at qualified institutional buyers. These notes will be secured by the company and its future subsidiaries. Proceeds will be used to redeem existing senior secured notes due 2024 and cover related expenses. However, the offering is subject to market conditions and there are no guarantees regarding completion.

CommScope Holding Company (NASDAQ: COMM) reported Q2 2021 results with net sales of $2.19 billion, up 3.9% from the previous year. Core net sales rose 17.8% to $1.73 billion, driven by growth in Broadband and Venue Networks. However, the company suffered a net loss of $153.8 million, down 52.1% YOY. Non-GAAP adjusted EBITDA increased 10.0% to $307.7 million. Despite supply chain challenges, CommScope remains optimistic about growth opportunities in Broadband and 5G. The company ended the quarter with $446.2 million in cash and no borrowings under its credit facility.

CommScope has partnered with Redeemer Lutheran College in Brisbane, Australia, to enhance digital learning and campus security through a new Wi-Fi 6 network. This initiative, implemented by BES IT, will support over 1,200 students and staff, ensuring reliable connectivity for high-bandwidth applications. The project includes a contactless digital door lock system to improve security.

CommScope’s RUCKUS technology is crucial for managing connected devices, addressing urgent bandwidth needs, and facilitating a secure learning environment amidst increased demands for digital education.

CommScope Holding Company (NASDAQ: COMM) announced the immediate resignation of Morgan Kurk as CTO and leader of Broadband Networks. Tom Cloonan, currently CTO of Broadband Networks, will serve as interim CTO during a strategic evaluation. Cloonan brings extensive experience from ARRIS and Bell Labs, holding over 60 patents. Ric Johnsen will lead the Broadband Networks segment, leveraging his 11-year tenure at CommScope and military background. CEO Chuck Treadway expressed confidence in the leadership transition, emphasizing ongoing efforts to optimize the company’s portfolio and cost structure.

CommScope Holding Company is set to release its Q2 2021 financial results on August 5 before the market opens. The results will be followed by a conference call at 8:30 a.m. Eastern, where management will discuss key financial figures and insights. Investors can access the live audio through CommScope’s Investor Relations page. A replay will be available afterward.

CommScope has launched HELIAX® SkyBlox™, a solution aimed at expediting 5G network upgrades for mobile operators. This innovation weighs only one kilogram, reducing installation time by over 50% while minimizing tower load impact. Made of 100% recyclable materials, HELIAX SkyBlox™ supports fiber-to-the-antenna deployments and addresses challenges like time-to-market delays. Additionally, CommScope introduced the HELIAX Modular FTTA solution, designed for flexible connections in 5G networks. These advancements cater to the increasing demand for efficient 5G rollouts amidst global infrastructure investments.

CommScope announced a collaboration with Openreach to enhance the UK's Full Fibre broadband network. This partnership will involve hiring 30-50 manufacturing engineers in Rhyl, Wales, to build connectorised block terminals. Openreach aims to connect 25 million premises with Full Fibre technology by 2026, investing significantly to improve network quality. The use of CommScope's NOVUX platform will streamline installation processes, reducing delays. This initiative supports the UK government's goal for gigabit-capable broadband access across 85% of the nation by 2025.

CommScope has partnered with View TV Group to enhance its broadcast content delivery networks (CDN) through the integration of CommScope's Manifest Delivery Controller (MDC). This technology aims to facilitate the transition of traditional broadcasts to digital platforms, emphasizing monetization capabilities. View TV Group's Broadcast CDN enables efficient monetization for live and on-demand content. CommScope's MDC supports dynamic ad insertion and analytics, demonstrating its scalability for millions of subscribers and shortening the time-to-market for new advertising services.

CommScope achieved a significant legal victory against Rosenberger for the misappropriation of base station antenna (BSA) trade secrets. The New Jersey Federal District Court has prohibited Rosenberger from using CommScope's BSA software and has halted its sale of related products. This order remains in effect until the case's resolution. CommScope is pursuing further legal action for additional trade secrets theft, including hardware. The court also indicated that it will consider broader injunctive relief after the trial.