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CommScope Holding Company, Inc. (symbol: COMM) is a leading provider of infrastructure solutions for communication, data center, and entertainment networks. Headquartered in Hickory, North Carolina, CommScope specializes in both wired and wireless network solutions, playing a pivotal role in enabling service providers such as cable and telephone companies, data centers, and digital broadcast satellite operators to efficiently deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to subscribers.
CommScope's operations are divided into several key segments:
- Connectivity and Cable Solutions (CCS): Focuses on providing robust connectivity solutions that include copper and fiber optic cables, as well as connectivity components for various applications.
- Outdoor Wireless Networks (OWN): This segment offers solutions for improving wireless coverage and capacity, particularly in outdoor settings such as remote cell sites and large venues like sports arenas and airports.
- Networking, Intelligent Cellular, and Security Solutions (NICS): Develops intelligent networking solutions to enhance cellular connectivity and network security across complex environments.
- Access Network Solutions (ANS): Provides comprehensive solutions to optimize and expand network access, ensuring high-speed and reliable connectivity.
With a focus on innovation and a commitment to excellence, CommScope is continuously evolving to meet the dynamic needs of modern communication. Recent achievements include advancements in 5G technology, expanding the capabilities of its fiber optic solutions, and forming strategic partnerships to enhance its product offerings. Financially, CommScope has shown resilience and adaptability, investing in R&D to stay ahead in the competitive tech landscape.
CommScope's products and solutions are integral to some of the world's most advanced networks, ensuring seamless connectivity in various environments from bustling airports to high-tech data centers. The company's expertise is crucial for businesses looking to boost bandwidth, expand network capacity, and enhance overall efficiency.
CommScope Holding Company, a leader in network connectivity, will release its first quarter 2023 financial results on May 4 before market opens. This will be followed by a conference call at 8:30 a.m. Eastern where management will discuss the financial performance. Investors can access a live audio stream via the Investor Relations website. A replay will be available for a limited time post-call. CommScope is committed to advancing wired and wireless network technologies.
CommScope (NASDAQ: COMM) announced an expansion of its fiber-optic cable production in the U.S. to enhance broadband access, particularly for underserved areas. The initiative aims to connect 500,000 homes annually through fiber-to-the-home (FTTH) deployments and will create 250 new jobs over the next five years, with 90% requiring no college degree. The company is investing $47 million in capital expenditures to boost domestic manufacturing in alignment with the White House's supply chain initiative. The HeliARC fiber optic cable will also facilitate easier installation and support rural connectivity efforts.
CommScope Holding Company (NASDAQ: COMM) will participate in the J.P. Morgan Global High Yield & Leveraged Finance Conference on March 7, 2023. The Executive Vice President and Chief Financial Officer, Kyle Lorentzen, will engage in a fireside chat at 8:30 a.m. Eastern. Additionally, he and the CommScope Investor Relations team will hold individual meetings with attendees throughout the day.
A live webcast of the event will be accessible on CommScope’s Investor Relations page and available for on-demand viewing approximately 24 hours after the event concludes.
Werner Enterprises (Nasdaq: WERN) has appointed Christopher D. Wikoff as Executive Vice President, Treasurer, and Chief Financial Officer, effective April 18, 2023. Wikoff succeeds John J. Steele, who retires after 33 years with the company. With over 20 years in finance leadership, Wikoff aims to enhance Werner's financial discipline and support its DRIVE strategy. Previously, he held significant roles at West Technology Group and CommScope, contributing to major transformations and capital market activities. The transition is praised by Werner's leadership, reinforcing the company's commitment to stakeholder value.
CommScope Holding Company reported Q4 2022 net sales of $2.318 billion, up 4.2% year-over-year, with core net sales increasing 10.2% to $1.926 billion. However, the GAAP net loss widened to $1.109 billion, translating to a net loss per share of $(5.39). On a positive note, non-GAAP adjusted EBITDA reached $376.2 million, up 44.4%. For the full year, net sales totaled $9.228 billion, with a GAAP net loss of $1.287 billion. The company noted challenges due to inflation and supply chain constraints, but expects improvements in 2023.
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