Commscope Hldg Co Inc Stock Price, News & Analysis

CommScope has launched its Coexistence portfolio, enabling service providers to upgrade existing PON networks without additional fiber. This innovative solution aims to enhance data speeds and expand service offerings including enterprise, mobile backhaul, and residential services. The portfolio features CEx elements that integrate seamlessly into current networks and provide a pathway to future upgrades. Available in multiple configurations, the CEx portfolio exemplifies CommScope's commitment to supporting customers in transforming their network capabilities.

CommScope announced the general availability of its FOSC Modular Splice Closure, enhancing fiber optic connectivity with improved versatility and reliability. Scheduled for launch in November 2021, this innovative closure utilizes NOVUX technology to streamline installations and servicing, accommodating various cable types. The design features a modular architecture with eight interchangeable segments, facilitating network expansion. This product supports operators in building high-speed broadband networks, ensuring protection and ease of use for fiber connections.

CommScope has partnered with Evoca to provide subscribers with the VIP7802-ATSC, a set-top solution integrating Android TV and ATSC 3.0 technology. This development marks a significant advancement in delivering converged live and streaming content to consumers. The Pilot, as it will be named, aims to enhance the viewing experience by aggregating streaming content and supporting high-definition broadcasts. Deployment is set to begin in Q1 2022, targeting new subscribers in the U.S. The service is expected to include a variety of high-quality programming for under $50 monthly.

CommScope has partnered with Orange Slovensko to introduce a new line of advanced set top boxes powered by Android TV™. These 4K UHD digital video decoders enhance user experience by providing seamless connectivity for OTT streaming and on-demand content. The devices are crafted from 99% post-consumer recycled plastics, reflecting both companies' commitment to sustainability. This partnership aims to align with evolving consumer viewing habits, furthering both companies' reach in the streaming market while promoting environmentally friendly practices.

CommScope Holding Company (NASDAQ: COMM) announced the pricing of $1,250 million in 4.75% senior secured notes due 2029, offered to qualified institutional buyers and certain non-U.S. persons. The notes will be guaranteed on a senior secured basis and secured by first-priority interests in Fixed Asset Collateral. Proceeds will be utilized to redeem existing 5.500% senior secured notes due 2024 and cover related expenses. The offering is not registered under the Securities Act, limiting its sale in the U.S.

CommScope Holding Company (NASDAQ: COMM) announced its subsidiary intends to offer $1,250 million in senior secured notes due 2029, aimed at qualified institutional buyers. These notes will be secured by the company and its future subsidiaries. Proceeds will be used to redeem existing senior secured notes due 2024 and cover related expenses. However, the offering is subject to market conditions and there are no guarantees regarding completion.

CommScope Holding Company (NASDAQ: COMM) reported Q2 2021 results with net sales of $2.19 billion, up 3.9% from the previous year. Core net sales rose 17.8% to $1.73 billion, driven by growth in Broadband and Venue Networks. However, the company suffered a net loss of $153.8 million, down 52.1% YOY. Non-GAAP adjusted EBITDA increased 10.0% to $307.7 million. Despite supply chain challenges, CommScope remains optimistic about growth opportunities in Broadband and 5G. The company ended the quarter with $446.2 million in cash and no borrowings under its credit facility.

CommScope has partnered with Redeemer Lutheran College in Brisbane, Australia, to enhance digital learning and campus security through a new Wi-Fi 6 network. This initiative, implemented by BES IT, will support over 1,200 students and staff, ensuring reliable connectivity for high-bandwidth applications. The project includes a contactless digital door lock system to improve security.

CommScope’s RUCKUS technology is crucial for managing connected devices, addressing urgent bandwidth needs, and facilitating a secure learning environment amidst increased demands for digital education.

CommScope Holding Company (NASDAQ: COMM) announced the immediate resignation of Morgan Kurk as CTO and leader of Broadband Networks. Tom Cloonan, currently CTO of Broadband Networks, will serve as interim CTO during a strategic evaluation. Cloonan brings extensive experience from ARRIS and Bell Labs, holding over 60 patents. Ric Johnsen will lead the Broadband Networks segment, leveraging his 11-year tenure at CommScope and military background. CEO Chuck Treadway expressed confidence in the leadership transition, emphasizing ongoing efforts to optimize the company’s portfolio and cost structure.