CommScope Holding Company, Inc. - COMM STOCK NEWS

CommScope has partnered with a4, Altice USA's advanced advertising unit, deploying its Video Advertising Solutions to enhance geographic and addressable advertising capabilities across video platforms. The CommScope Manifest Delivery Controller (MDC) is implemented to deliver server-side dynamic ad insertion and analytics for IP video services. This strategic move aims to improve ad experiences, operational efficiency, and revenue generation amidst evolving content consumption patterns. CommScope's solutions support millions of subscribers, enhancing subscriber experiences and advertising inventory value.

CommScope stockholders approved seven proxy proposals at the annual meeting, including an amendment to eliminate the classified structure of the Board of Directors. Directors Mary S. Chan, Stephen C. Gray, L. William Krause, and Derrick A. Roman were re-elected for terms ending in 2022. The appointment of Ernst & Young LLP as the independent auditor for fiscal 2021 was ratified. Additional approvals included compensation for named executive officers and selective performance-based retention equity awards. Series A Convertible Preferred Stockholders re-elected Patrick R. McCarter as a director.

CommScope Holding Company (NASDAQ: COMM) reported Q1 2021 results, showing net sales of $2.07 billion, a 1.9% increase from Q1 2020. Core net sales rose 10.5% to $1.58 billion. The GAAP net loss decreased 39% to $97.6 million, with a loss per share of $0.55. Non-GAAP adjusted EBITDA grew by 25.3% to $289.7 million. The company is undergoing a spin-off of its Home Networks business to focus on core segments, expecting to capitalize on growth opportunities in broadband and wireless markets amidst ongoing market recovery post-pandemic.

CommScope has announced the availability of its RD2322 Remote MACPHY (RxD) device, now ready for field deployment. This innovative solution allows operators to transition from Remote PHY to Remote MACPHY as they upgrade their Hybrid fiber-coaxial networks. The RD2322 RxD enhances bandwidth capacity and fiber efficiencies, while simplifying operations and reducing loads on facilities. This product marks a significant step in Distributed Access Architecture (DAA) technology, showcasing CommScope's leadership in this field.

CommScope plans to release its first quarter 2021 financial results on May 6, before the market opens. Following the release, management will host a conference call at 8:30 a.m. Eastern to discuss the results. The call will be available via a link on the Investor Relations website, and a replay will be archived for a limited time.

About CommScope: CommScope (NASDAQ: COMM) specializes in advanced connectivity solutions for communications networks.

CommScope (NASDAQ: COMM) announces the retirement of chief legal officer Burk Wyatt effective June 1, 2021, after more than 25 years with the company. His tenure saw CommScope grow from $400 million in revenue to approximately $8 billion, navigating various market changes. Justin Choi will succeed Wyatt, bringing over 30 years of legal experience in the network infrastructure industry. The transition comes as CommScope focuses on its CommScope NEXT strategy, aiming to return to growth and optimize its portfolio.

CommScope Holding Company (NASDAQ: COMM) plans to spin off its Home Networks business to enhance operational efficiency and focus on core growth strategies. This separation, part of the CommScope NEXT strategy, aims for a tax-free spin-off to shareholders by Q1 2022. The initiative is expected to streamline operations, reduce costs, and foster innovation in both CommScope and Home Networks. Following the spin-off, CommScope will focus on three segments: Broadband Networks, Venue and Campus Networks, and Outdoor Wireless Networks, enhancing its market position and investment opportunities.

CommScope has expanded its Wi-Fi 6 access point portfolio with the launch of the indoor RUCKUS H550 and outdoor RUCKUS T350 access points. These devices integrate Wi-Fi, Bluetooth Low Energy, and Zigbee protocols, creating a converged network for various applications including building management and IoT. The H550 is ideal for multi-dwelling units, supporting multiple 4K video streams, while the T350 is designed for high-performance outdoor connectivity, adapting to harsh environmental conditions. Additionally, new enhancements in RUCKUS SmartZoneOS improve network management capabilities.

CommScope has partnered with Audio Impact to supply reliable Wi-Fi for Navy SEALs and their families at the C4 Foundation's C4 Ranch. This initiative aims to enhance communication for those transitioning in and out of deployment. The collaboration will deploy RUCKUS Wi-Fi access points and power-over-Ethernet injectors, addressing previous connectivity issues. This project is intended to help alleviate stress related to deployment. The move signifies a commitment to supporting military personnel and their families through improved technology.