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UPDATE 1-CommScope sees FY sales above Wall Street view
January 4, 2011 / 2:20 PM / 7 years ago

UPDATE 1-CommScope sees FY sales above Wall Street view

* Sees 2010 sales $3.16-$3.19 bln vs est $3.15 bln

* Sees 2010 adj operating income of $355-$368 mln

Jan 4 (Reuters) - Communications cable maker CommScope Inc (CTV.N), which is being bought by private equity firm Carlyle Group [CYL.UL], forecast 2010 net sales above market estimates, and said it will raise $1.5 billion through a notes offering.

CommScope expects its 2010 net sales to be $3.16-$3.19 billion, while analysts on average estimated $3.15 billion, according to Thomson Reuters I/B/E/S.

The company also said it expects 2010 adjusted operating income was in the range of $355-$368 million.

CommScope said it plans to raise $1.5 billion through a senior notes offering and will use the proceeds to finance in part the cash consideration to be paid in the proposed $2.9 billion deal with Carlyle.

Last October, Carlyle agreed to buy CommScope for $31.50 a share in cash.

Shares of CommScope closed at $31.29 Monday on New York Stock Exchange. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Don Sebastian)

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