Communications cable maker CommScope Inc said on Monday quarterly profit rose 31 percent due to demand for high-speed networks. The company said second-quarter net profit was $61.1 million, or 83 per share, compared to $46.7 million, or 65 cents a share, a year earlier.
Revenue rose 26 percent to $519.1. Analysts, on average, were expecting earnings per share of 76 cents on revenue of $505.8 million, according to Reuters Estimates. CommScope said last month it planned to buy communications equipment maker Andrew Corp for about $2.6 billion in a bid to cut manufacturing costs and strengthen its position with service provider clients. Andrew Corp said on Monday it had a second-quarter net loss as sales fell and the company wrote down the value of its Base Station Subsystems unit.
Comments
Comments are closed.