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CommScope Holding Company, now Vistance Networks, reports developments around its transition into a focused network-solutions company after the completed sale of its Connectivity and Cable Solutions segment. News centers on the rebrand, capital-structure actions tied to the divestiture, operating results, and the remaining businesses built around RUCKUS Networks and Access Networks Solutions.
Company updates also cover RUCKUS Wi-Fi, switching, cloud-managed platforms, AI-enabled network management for multi-dwelling units, PRiSM secure-boot signing technology, and fiber architecture training and showcase initiatives for service providers. Financial releases discuss continuing operations, segment measures, debt repayment, share repurchase authorization, and cash distribution decisions.
CommScope (NASDAQ: COMM) announces the launch of the ICX 8200 Switch Series, designed for wired networks optimized for wireless-first and IoT campus networks. This series features entry-level switches with 25 Gbps uplink ports and includes the first enterprise switch offering fiber-to-the-room connectivity. The product supports advanced Wi-Fi technologies and provides flexibility with multiple hardware configurations. Key benefits include broad connectivity options, high power delivery for IoT devices, and enhanced security features. Models with gigabit copper ports are already available, while those with fiber and multigigabit options will launch in mid-2023.
CommScope (NASDAQ: COMM) has entered the Wi-Fi 7 retail market with the launch of the SURFboard G54 DOCSIS 3.1 quad-band cable modem, as announced during CES 2023. The SURFboard G54 boasts significant enhancements such as a 10 Gbps Ethernet port, quad-band capabilities, and multi-gigabit speed support. This device enables compatibility with older Wi-Fi technologies and is designed for seamless performance, making it suitable for high-demand applications. Additional Wi-Fi 7 solutions aimed at service providers are also in development, showcasing CommScope's commitment to advanced home networking technologies.
CommScope (NASDAQ: COMM) has launched the HomeVantage™ home networking solutions, featuring high-performance gateways with open-source firmware. This product line is designed to meet global market demands, allowing service providers to streamline broadband deployment and application management. HomeVantage integrates technologies from the RDK and OpenWrt communities, supporting containerized apps for enhanced service delivery. The portfolio includes support for Wi-Fi 7 and aims to boost the connected home experience. CommScope will showcase these solutions at CES in Las Vegas from January 5-7.
CommScope has introduced its Infrastructure Distributor Program, a key element of its new Service Provider Channel Partner Program. This initiative aims to support long-time channel partners with tools, resources, and incentives to enhance customer development. The program features the CommScope PartnerPRO® Portal, educational offerings through CommScope University, and a Badge Recognition Program for Elite partners. These resources are designed to foster collaboration and innovation in building next-generation broadband networks, aligning with CommScope's broader campaign for universal broadband access.
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CommScope (NASDAQ: COMM) will participate in the BofA Securities 2022 Leveraged Finance Conference on November 29, 2022, featuring a fireside chat with Kyle Lorentzen, CFO, at 2:50 p.m. Eastern. Individual meetings will follow throughout the day.
Additionally, on November 30, 2022, Chuck Treadway, CEO, and Kyle Lorentzen will host another fireside chat at 11:40 a.m. Mountain, with further individual meetings scheduled. A live webcast will be available on CommScope’s Investor Relations page.
CommScope reported Q3 2022 results with net sales of $2.381 billion, a 13.1% increase year-over-year. Core net sales reached $1.990 billion, up 17.7%. The company achieved a GAAP net income of $22.9 million, compared to a loss of $(124.2 million) last year. Non-GAAP adjusted EBITDA rose 34.2% to $347.6 million. Despite operational cash flow used of $(87.6 million), CommScope anticipates a strong Core adjusted EBITDA range between $1.15–$1.25 billion for the full year.
CommScope has announced an agreement with Mediacom to enhance its network through the deployment of Remote MACPHY Devices, specifically the RD2322 RxD, within the OM4120 Optical Node. This upgrade allows Mediacom to transition its existing infrastructure to a Distributed Access Architecture (DAA), boosting service capacity and reducing latency. The partnership builds on successful trials of CommScope's DAA solutions, including a notable 10G Smart Home trial, demonstrating CommScope's commitment to supporting Mediacom's future network needs.
CommScope, a leader in network connectivity, will release its third quarter 2022 financial results on November 3 before the market opens. This will be followed by a conference call at 8:30 a.m. Eastern where management will discuss the results. Investors can access the live audio through the Investor Relations website.
CommScope has launched the HomeSight™ system, a cutting-edge connected care solution aimed at enhancing remote healthcare services. This system facilitates in-home monitoring and communication via existing TV setups, promoting greater patient engagement. The initial deployment is in partnership with Kraydel, utilizing their Konnect platform for seamless healthcare delivery. HomeSight integrates various technologies, including environmental sensors and LTE connectivity, enabling broader accessibility to healthcare services. The launch will be prominently featured at the Care Show 2022 in Birmingham, UK.