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UPDATE 1-CommScope Q1 adjusted profit beats Street view

Tue Apr 28, 2009 5:19pm EDT

Stocks

   

* Q1 adj EPS $0.14 vs est $0.10

* Q1 rev $742 mln vs est $752 mln

* Sees Q2 rev $800 mln-$850 mln vs est $846.71 mln

April 28 (Reuters) - Communications cable maker CommScope Inc (CTV.N) posted an adjusted quarterly profit that topped estimates, helped by lower operating expenses and forecast sequential revenue growth for the second quarter.

For the first-quarter, the company posted a net loss of $21 million, or 29 cents a share, compared with a loss of $11 million or 16 cents a share, a year ago.

The loss included after-tax charges of $15.3 million for the amortization of purchased intangibles, $8.6 million for the loss on extinguishment of debt and $7.6 million in restructuring and other special items.

Excluding items, CommScope posted earnings of 14 cents a share. Net sales fell 26 percent to $742 million in the quarter.

Analysts were expecting earnings of 10 cents a share, excluding items, on revenue of $752.40 million, according to Reuters Estimates.

For the second quarter, the company expects revenue of $800 million to $850 million compared with analysts estimates of $846.71 million.

Shares of the company closed at $20.47 Tuesday on the New York Stock Exchange.

For alerts, please double click [ID:nWNAB9482] (Reporting by Mansi Dutta in Bangalore, Editing by Dinesh Nair)



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