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commscope holding co inc (COMM) Key Developments

CommScope’s ION-E Wireless Solution Installed in Telecom Italia’s Office Premises in Rome

CommScope’s ION-E wireless solution has been certified and installed by Telecom Italia in one of the operator’s offices in Rome. Telecom Italia is the first wireless operator to put the ION®-E through its complete lab certification process, making it available for use in its network. The operator tested and certified the ION-E as meeting its standards across a number of metrics and is happy with the system’s performance in its facility. CommScope announced the ION-E unified wireless infrastructure at Mobile World Congress 2014 as a whole new solution category addressing the needs of building owners and wireless operators. ION-E is based on an IT architecture, utilizing the standards-compatible structured cabling common to many enterprises, making it easier to deploy while being flexible and scalable for future needs. The ION-E features multi-operator, multi-technology and multi-band capabilities and unifies licensed and unlicensed wireless services by combining all signals on a single 10 Gigabit infrastructure that is technology and spectrum adaptive. CommScope’s ION-E is currently being trialed by operators in Europe and the US. Telecom Italia is the first operator to approve the solution for deployment. CommScope expects more European and US network operators to deploy the ION-E in 2015.

CommScope Revolutionizes Wireless Network Testing with Groundbreaking PIM Solution

CommScope is changing the way operators test for a costly source of interference in advanced wireless networks called passive intermodulation (PIM), turning what is a reactionary procedure into a proactive process with its innovative Optical PIM Tester. A revolutionary test methodology is introduced with the affordable, portable tester. For the first time ever, a single technician can connect directly to the base band unit at the bottom of the tower and perform a “truly active” PIM test over the Common Public Radio Interface (CPRI) by using the Optical PIM Tester. Additionally, the Optical PIM Tester can easily be included within every technician’s arsenal due to its compact size and ease of use. It provides a convenient, user-friendly interface that is accessible from a smartphone, tablet or notebook computer. Entire technical crews including tower climbers no longer need to be sent out to a site to test for PIM by disconnecting coaxial cable from antennas, potentially introducing new PIM in the test process. The Optical PIM Tester features: Active PIM testing over CPRI by injecting signals into the downlink and looking for PIM products in the uplink, making it easier to identify. Support for all frequency bands in one unit, eliminating the need for multiple PIM units. Simultaneous access to multiple sectors and frequency bands, saving on testing time. PIM testing at ground level, increasing safety and massively reducing costs and time. A user-friendly interface that is accessible from a smartphone, tablet or notebook computer. Part of the Andrew Solutions® portfolio, the Optical PIM Tester is a battery powered, ruggedized, portable unit that connects between the base band unit and remote radio units using fiber optic cables. The Optical PIM Tester enables a single technician to test for PIM in a fraction of the time required with legacy PIM testers. When a smartphone, tablet or a notebook computer connects to the Optical PIM Tester over Wi-Fi, a user-friendly interface appears for executing the test process. The system is highly automated, requiring no specialized knowledge of PIM.

CommScope Holding Company, Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015; Reports Asset Impairment for the Fourth Quarter of 2014

CommScope Holding Company, Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of $827,895,000, operating income of $76,218,000, income before income taxes of $45,225,000, net income of $47,811,000 or $0.25 per basic and diluted share, net cash generated by operating activities of $127,786,000, additions to property, plant and equipment of $12,051,000, non- GAAP adjusted operating income of $139.4 million, non-GAAP adjusted net income of $72.6 million or $0.38 per diluted share, compared to the net sales of $846,558,000, operating income of $60,143,000, loss before income taxes of $39,171,000, net loss of $8,912,000 or $0.05 per basic and diluted share, net cash generated by operating activities of $86,434,000, additions to property, plant and equipment of $9,051,000, non- GAAP adjusted operating income of $141.3 million, non-GAAP adjusted net income of $54.1 million or $0.30 per diluted share, for the same quarter a year ago. Adjusted free cash flow was $115.7 million against $130.5 million a year ago. Non-GAAP adjusted EBITDA was $152.0 million against $155.1 million a year ago. Adjusted net income and earnings per share rose mainly due to lower interest expense and a lower adjusted effective tax rate in the quarter. Adjusted free cash flow was down somewhat from the year-ago period, due mainly to the timing of cash interest payments resulting from its refinancing activities earlier in the year. For the year, the company reported net sales of $3,829,614,000, operating income of $577,449,000, income before income taxes of $317,063,000, net income of $236,772,000 or $1.24 per diluted share, net cash generated by operating activities of $289,418,000, additions to property, plant and equipment of $36,935,000, non-GAAP adjusted operating income of $808.4 million, non-GAAP adjusted net income of $426.7 million or $2.23 per diluted share, compared to the net sales of $3,480,117,000, operating income of $329,714,000, income before income taxes of $76,185,000, net income of $19,396,000 or $0.12 per basic and diluted share, net cash generated by operating activities of $237,701,000, additions to property, plant and equipment of $36,780,000, non-GAAP adjusted operating income of $620.1 million, non-GAAP adjusted net income of $262.1 million or $1.60 per diluted share, for the same period a year ago. Adjusted free cash flow was $346.4 million against $254.1 million a year ago. For the full year, sales increased 10%, primarily due to growth in the Wireless segment. Adjusted net income and adjusted EPS up 63% and 39%, respectively, year-over-year. This improvement is mainly due to higher sales volumes, a favorable change in the mix of products sold, benefit from ongoing cost savings initiatives, lower interest expense and a lower effective tax rate. The company reported asset impairment of $2,133,000 for the fourth quarter of 2014 compared to $3,727,000 for the same period a year ago. The company provided earnings guidance for the first quarter and full year of 2015. For the quarter, the company expects revenue in the range of $800 million - $850 million, adjusted operating income of $135 million - $155 million and adjusted earnings per diluted share of $0.33 - $0.38, based on a share count of 192 million weighted average diluted shares. For the year, the company expects revenue in the range of $3.65 billion - $3.80 billion, adjusted operating income of $725 million - $775 million, adjusted earnings per diluted share of $1.95 to $2.05, based on a share count of 194 million weighted average diluted shares and strong free cash flow.

CommScope Offers DAS Platform for European Wireless Market

CommScope is offering a new tool for subscribers to achieve its next generation distributed antenna system (DAS) ready for the European marketplace. The comprehensive ION-U distributed antenna system is now ready to support European mobile network operators with five frequency bands and tri-band MIMO configurations over a single fiber. A unified, low and high power DAS, CommScope's ION-U now supports five frequency bands common to Europe, and can be used to extend wireless coverage and capacity in many outdoor settings (oDAS) as well as indoor applications (iDAS). The ION-U features software that guides the installation, optimization and commissioning of the system, converting a time and resource intensive job into a highly automated process. Instead of requiring highly skilled RF technicians, ION-U installation can utilize a less specialized workforce while decreasing roll out times and the total cost of ownership. The ION-U supports multiple operators, multiple frequency bands and multiple generations of air interface technologies in one system. The ION-U covers the following frequencies for Europe: 800, 900, 1,800, 2,100 and 2,600 MHz bands. To further increase data capacity, the ION-U also supports tri-band MIMO (Multiple Input Multiple Output) configurations over a single fiber. This feature greatly enhances the capacity and traffic load the ION-U can handle while continuing to offer a low visual impact. CommScope will demonstrate the ION-U in Stand #2E46 at Mobile World Congress in Barcelona, March 2-5.

CommScope Holding Company, Inc., CommScope Inc., TE Connectivity Ltd. - M&A Call

To discuss the acquisition of TE Connectivity Ltd.'s Enterprise and Wireless businesses, including its managed connectivity business

 

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