CommScope, a supplier of infrastructure solutions for communications networks, has reported a net loss $20.52m, or $0.29 per diluted share, for the first quarter ended March 31, 2009, compared to a net loss of $11.05m, or $0.16 per diluted share, for the same period in 2008.
For the first quarter of 2009, CommScope’s net sales declined to $742.25m, compared to $1 billion reported in the first quarter of 2008. Operating income for the first quarter of 2009 declined to $9.03m, from $27.77m in the first quarter of 2008.
Frank Drendel, chairman and CEO of CommScope, said: The first quarter was an exceptionally difficult quarter. We entered 2009 with a market that was decelerating significantly as challenging economic conditions were compounded by customer and distributor inventory reductions.
However, we continue to see positive wireless fundamentals, including significant wireless subscriber growth in India and China as well as strong wireless data growth in more mature markets. We also expect strengthening sequential demand in the seasonally stronger second and third quarters. We believe that the combination of higher expected sales and meaningful cost reductions that we have implemented or have underway positions CommScope for strong earnings improvement as we move forward.
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