VISN

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Vistance Networks Reports Second Quarter 2026 Results

Second Quarter Highlights

• Net sales of $319.6 million

• GAAP income from continuing operations of $26.1 million

• Non-GAAP adjusted EBITDA of $35.8 million (1)

• Core non-GAAP adjusted EBITDA of $45.5 million* (1)

• Cash flow used in operations of $(72.7) million and free cash flow of $(74.7) million (2)

* Core financial measures reflect the results of the Aurora Networks (Aurora) segment and exclude general corporate costs that were previously allocated to the RUCKUS segment and Connectivity and Cable Solutions (CCS) segment, since these costs were not directly attributable to these discontinued operations. See the segment comparison tables below showing the breakdown of Aurora’s results which represent our Core financial measures, and corporate and other costs which include the general corporate costs that were previously allocated to the divestitures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

Richardson, TX, August 6, 2026 — Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter ended June 30, 2026.

Summary of Consolidated Results

Q2

Q2

% Change

2026

2025

YOY

(in millions, except per share amounts)

Net sales

$

319.6

$

324.1

(1.4

)%

GAAP income from continuing operations

26.1

5.9

342.4

GAAP income (loss) from continuing operations per diluted share

0.06

(0.05

)

NM

Non-GAAP adjusted EBITDA (1)

35.8

52.7

(32.1

)

Core non-GAAP adjusted EBITDA (1) (2)

45.5

80.2

(43.3

)

Non-GAAP adjusted net income per diluted share (1)

0.12

0.13

(7.7

)

NM – Not meaningful

(1) See “Non-GAAP Financial Measures” below.

(2) Aurora's results represent our Core financial measures and exclude general corporate costs that were previously allocated to the RUCKUS segment and CCS segment, since these costs were not directly attributable to these discontinued operations.

“This morning, in conjunction with the closing of the RUCKUS transaction on July 1, 2026, we announced the plan for a special distribution of $5.00 per share to be paid by the end of August 2026. Upon payment of this special distribution, in total, we will have returned $15.00 per share or $3.4 billion to our shareholders this year while repaying all debt and redeeming all preferred equity. We are pleased with the outcome of our divestiture strategy as it has unlocked significant value for our shareholders while positioning the business for future value creation. Following, the special distribution, we expect to end the year with between $700 and $750 million of cash with no outstanding debt allowing us to further invest in Vistance. In addition in 2027, we expect a tax refund of $160 million related to our divesture tax strategy. We will have significant funds to evaluate growth opportunities including organic and inorganic investments. These investments could range from investing more aggressively in existing or new technology to evaluating potential acquisitions to broaden the markets we participate in, our technology portfolio and our customer base. As part of our investment strategy, we will continue to evaluate stock buybacks under the $100 million of authority the Board has approved for the buyback program” said Chuck Treadway, President and Chief Executive Officer.

“The Aurora business delivered $319 million of revenue and $46 million of Adjusted EBITDA in the second quarter. This was generally aligned with our expectations and down versus the prior year due to strong license sales in the second quarter of 2025, memory chip pricing and stranded costs associated with the divestitures. Our full year adjusted EBITDA guideposts of $200 to $225 million are down $25 million versus the first quarter guideposts driven by continued challenges with memory chip pricing and availability. We remain confident in the underlying demand for our products” said Kyle Lorentzen, Chief Financial Officer.

On July 1, 2026, the Company completed the previously announced sale of its RUCKUS segment to Belden Inc. (Belden) pursuant to the Purchase Agreement, dated as of April 29, 2026, in which Belden acquired the RUCKUS segment on a cash-free, debt-free basis, in exchange for approximately $1.846 billion in cash, subject to certain adjustments. As a result of the RUCKUS sale, unless otherwise noted, these financial results relate to Vistance Networks’ continuing operations based on our remaining Aurora segment. For all periods presented, amounts have been recast to reflect these changes.

Second Quarter Results and Comparisons

Net sales in the second quarter of 2026 decreased 1.4% year-over

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EX-99.1

EX-99.1

Exhibit 99.1

Vistance Networks Reports First Quarter 2026 Results

First Quarter Highlights

• Net sales of $471.8 million

• GAAP income from continuing operations of $231.7 million

• Non-GAAP adjusted EBITDA of $87.3 million (1)

• Core non-GAAP adjusted EBITDA of $87.3 million* (1)

• Cash flow used in operations of $(226.6) million and free cash flow of $(228.8) million (2)

* Core financial measures reflect the results of the RUCKUS and Aurora Networks (Aurora) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Connectivity and Cable Solutions (CCS) segment, Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit, since these costs were not directly attributable to these discontinued operations. See the segment comparison tables below showing the aggregation of the Core financial measures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

Richardson, TX, April 30, 2026 — Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter ended March 31, 2026.

Summary of Consolidated Results

Q1

Q1

% Change

2026

2025

YOY

(in millions, except per share amounts)

Net sales

$

471.8

$

388.1

21.6

%

GAAP income from continuing operations

231.7

341.1

(32.1

)

GAAP income from continuing operations per share

1.02

1.50

(32.0

)

Non-GAAP adjusted EBITDA (1)

87.3

47.2

85.0

Core non-GAAP adjusted EBITDA (1) (2)

87.3

63.1

38.4

Non-GAAP adjusted net income per diluted share (1)

0.34

0.11

209.1

“This morning, we announced we signed a definitive agreement to sell our RUCKUS Networks business to Belden in an all-cash transaction for $1.846 billion. We believe this transaction continues to unlock equity value for our shareholders, including further cash distributions. Belden is an excellent home for the RUCKUS business, both for our customers and employees. This transaction allows us to focus on value creation in our Aurora business. With an unlevered balance sheet, we have significant financial flexibility to further invest in the Aurora business, including evaluating accretive acquisitions. We believe this transaction coupled with our strong first quarter results, positions Vistance Networks for continued equity value improvement. We are pleased with our strong first quarter results. Vistance Networks reported net sales of $472 million, an increase of 22% from the prior year, and delivered Core adjusted EBITDA of $87 million, an improvement of 38% year-over-year, supported by growth in both segments,” said Chuck Treadway, President and Chief Executive Officer.

“With the closing of the CCS transaction in the first quarter and the subsequent distribution of excess cash resulting from that transaction, Vistance Networks has returned significant value to its shareholders. The RUCKUS transaction will continue this momentum. Our decision to not put leverage on the business after the CCS transaction has created financial flexibility as we focus on the Aurora business. The Aurora business had a strong first quarter with revenue and adjusted EBITDA up 33% and 32%, respectively. We expect the Aurora standalone business to deliver between $225 and $250 million of adjusted EBITDA in 2026,” said Kyle Lorentzen, Chief Financial Officer.

As previously reported, on January 9, 2026, the Company completed the sale of the CCS segment to Amphenol Corporation and used the approximate $10 billion of net proceeds to pay all of its outstanding debt and redeem all of the Series A Convertible Preferred Stock. The Company distributed the excess cash to shareholders, as a special distribution of $10 per share, on April 27, 2026. As a result of the CCS sale, unless otherwise noted, these financial results relate to Vistance Networks’ continuing operations based on the two remaining reporting segments: RUCKUS and Aurora. For all periods presented, amounts have been recast to reflect these changes.

First Quarter Results and Comparisons

Continuing operations net sales in the first quarter of 2026 increased 21.6% year-over-year to $471.8 million due to higher net sales in both the Aurora and RUCKUS segments. Net sales increased across all regions, except the Caribbean and Latin America (CALA) region and Canada.

Income from continuing operations of $231.7 million, or $1.02 per share, in the first quarter of 2026, decreased compared to the same prior year period’s income from continuing operations of $341.1 million, or $1.50 per share. Non-GAAP adjusted net income for the first quarter of 2026 was $80.1 million, or $0.34 per share, compared to $30.6 million, or $0.11 p

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EX-99.1

EX-99.1

Vistance Networks Board Approves Special Distribution

Richardson, TX, April 7, 2026 – Vistance Networks (NASDAQ: VISN) (“Vistance” or the “Company”), a global provider of intelligent network solutions, today announced its Board of Directors (the “Board”) declared a special cash distribution of $10.00 per share, payable on April 27, 2026 to holders of record of its common stock as of the close of business on April 17, 2026.

The Company will fund the payment of the distribution with cash on hand including cash proceeds received in connection with the sale of its Connectivity and Cable Solutions business to Amphenol Corporation on January 9, 2026.

Given the current volatility in the debt markets, the Company used only cash on hand for the dividend rather than adding leverage to the remaining business.

—END—

Vistance Networks, Aurora Networks, Ruckus Networks and their logos are trademarks of Vistance Networks, Inc. and/or its affiliates in the U.S. and other countries. For additional trademark information see https://www.vistancenetworks.com. All other product names, trademarks and registered trademarks are property of their respective owners.

About Vistance Networks:

Vistance Networks (NASDAQ: VISN) shapes the future of communications technology, pushing past what is possible. We deliver solutions that bring reliability and performance to a world always in motion. Our global team of innovators and employees are trusted advisors who listen to customers first, then deliver value. Discover more at www.vistancenetworks.com.

Follow us on LinkedIn.

Financial Contact:

Jenny Thompson

Jenny.Thompson@vistancenetworks.com

This press release includes forward-looking statements that are based on information currently available to management, management’s beliefs, as well as on a number of assumptions concerning future events. Forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, which could cause the actual results to differ materially from those currently expected. In providing forward-looking statements, the company does not intend, and is not undertaking any obligation or duty, to update these statements as a result of new information, future events or otherwise.

Source: Vistance Networks

EX-99.1

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EX-99.1

Exhibit 99.1

Vistance Networks Reports Fourth Quarter and Full Year 2025 Results

Fourth Quarter Highlights

• Net sales of $514.5 million

• GAAP loss from continuing operations of $50.3 million

• Non-GAAP adjusted EBITDA of $64.7 million (1)

• Core non-GAAP adjusted EBITDA of $99.1 million* (1)

• Cash flow generated by operations of $281.3 million and free cash flow of $255.5 million (2)

Full Year Highlights

• Net sales of $1.93 billion

• GAAP from continuing operations of $324.3 million

• Non-GAAP adjusted EBITDA of $292.0 million (1)

• Core non-GAAP adjusted EBITDA of $379.4 million* (1)

• Cash flow generated by operations of $322.9 million and free cash flow of $252.6 million (2)

* Core financial measures reflect the results of the RUCKUS and Aurora Networks (Aurora) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Connectivity and Cable Solutions (CCS) segment, Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit, since these costs were not directly attributable to these discontinued operations. See the segment comparison tables below showing the aggregation of the Core financial measures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

Richardson, TX, February 26, 2026 — Vistance Networks, Inc. (NASDAQ: VISN), a global leading provider of intelligent network solutions, today reported results for the quarter and year ended December 31, 2025.

Summary of Consolidated Results

Q4

Q4

% Change

2025

2024

YOY

(in millions, except per share amounts)

Net sales

$

514.5

$

415.2

23.9

%

GAAP loss from continuing operations

(50.3

)

(21.0

)

139.5

GAAP loss from continuing operations per share

(0.31

)

(0.17

)

82.4

Non-GAAP adjusted EBITDA (1)

64.7

27.5

135.3

Core non-GAAP adjusted EBITDA (1) (2)

99.1

64.0

54.8

Non-GAAP adjusted net income per diluted share (1)

0.17

0.14

21.4

Full Year

Full Year

% Change

2025

2024

YOY

(in millions, except per share amounts)

Net sales

$

1,931.6

$

1,382.6

39.7

%

GAAP income (loss) from continuing operations

324.3

(206.0

)

NM

GAAP income (loss) from continuing operations per share

1.11

(1.27

)

NM

Non-GAAP adjusted EBITDA (1)

292.0

24.5

1,091.8

Core non-GAAP adjusted EBITDA (1) (2)

379.4

137.4

176.1

Non-GAAP adjusted net income per diluted share (1)

0.77

0.10

670.0

NM – Not meaningful

(1) See “Non-GAAP Financial Measures” below.

(2) Core financial measures reflect the results of the RUCKUS and Aurora segments, in the aggregate, and exclude general corporate costs that were previously allocated to the CCS segment, OWN segment and DAS business unit, since these costs were not directly attributable to these discontinued operations.

“2025 was a great year for Vistance Networks. We stayed committed to what we could control to improve company performance and profitability while creating shareholder value. For the fourth quarter, Vistance Networks reported net sales of $515 million, an increase of 24% from the prior year, and delivered Core adjusted EBITDA of $99 million, an improvement of 55% year-over-year, supported by growth in both segments. We are well positioned for 2026 as we continue to implement our strategic initiatives in Aurora and Ruckus. Our 2026 annual guideposts for Core adjusted EBITDA are in the range of $350 to $400 million,” said Chuck Treadway, President and Chief Executive Officer.

“For the full year 2025, Vistance Networks reported net sales of $1.93 billion increasing 40% from the prior year and delivered adjusted Core adjusted EBITDA of $379 million which increased 176% year-over-year. We ended the year with $923 million of cash, up $260 million versus end of 2024. Our strong 2025 performance coupled with the CCS transaction unlocked shareholder value and has positioned Vistance Networks to continue on the path of creating additional shareholder value,” said Kyle Lorentzen, Chief Financial Officer.

Free cash flow for the fourth quarter was $255 million driven by strong EBITDA. We ended the year with a strong liquidity position of $1.5 billion including $923 million of cash and approximately $584 million of availability under our asset-based revolving credit facility.

On January 9, 2026, the Company completed the previously announced sale of the CCS segment to Amphenol Corporation and used the $10 billion of net proceeds to pay all of its outstanding debt and redeemed all of the preferred equity. The Company expects to distribute the excess cash to our shareholders, as a special distribution of no less than $10 per share, by the end of April 2026. As a result of the transaction, unless otherwise note

EX-99.1

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EX-99.1

Exhibit 99.1

CommScope Reports Third Quarter 2025 Results

Third Quarter Highlights

• Consolidated net sales of $1.63 billion

• RemainCo net sales of $516.3 million*

• GAAP income from continuing operations of $106.9 million

• Consolidated non-GAAP adjusted EBITDA of $402.5 million (1)

• RemainCo non-GAAP adjusted EBITDA of $90.6 million* (1)

• Cash flow generated by operations of $151.4 million and free cash flow of $135.0 million (2)

* RemainCo financial measures reflect the results of the RUCKUS and Access Network Solutions (ANS) segments, in the aggregate, and exclude the results and performance of the Connectivity and Cable Solutions (CCS) segment. RemainCo financial measures also exclude general corporate costs that were previously allocated to the Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit, since these costs were not directly attributable to these discontinued operations.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

CLAREMONT, NC, October 30, 2025 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2025.

Summary of Consolidated Results

Q3

Q3

% Change

2025

2024

YOY

(in millions, except per share amounts)

Consolidated net sales

$

1,629.7

$

1,082.2

50.6

%

RemainCo net sales (1)

516.3

345.5

49.4

GAAP income (loss) from continuing operations

106.9

(96.7

)

NM

GAAP income (loss) from continuing operations per share

0.38

(0.52

)

NM

Consolidated non-GAAP adjusted EBITDA (2)

402.5

204.2

97.1

RemainCo non-GAAP adjusted EBITDA (1) (2)

90.6

46.5

94.8

Non-GAAP adjusted net income per diluted share (2)

0.62

(0.06

)

NM

NM – Not meaningful

(1) RemainCo financial measures reflect the results of the RUCKUS and ANS segments, in the aggregate, and exclude the results and performance of the CCS segment. RemainCo financial measures also exclude general corporate costs that were previously allocated to the OWN segment and DAS business unit, since these costs were not directly attributable to these discontinued operations.

(2) See “Non-GAAP Financial Measures” below.

“We are pleased with our outstanding results in the third quarter. All businesses continue to deliver strong results as we take advantage of strong market conditions and deliver against our strategic initiatives. CommScope net sales of $1.63 billion increased 50.6% from the prior year. Non-GAAP adjusted EBITDA was $402 million, a strong improvement of 97% year-over-year, marking the sixth consecutive quarter of adjusted EBITDA growth. Third quarter adjusted EBITDA as a percentage of revenues was 24.7%, compared to 18.9% in the prior year, a year-over-year improvement of 580 basis points. The performance is a testament to our focus on what we can control and our team

implementing that strategic focus. We are well positioned as we move into the fourth quarter and are raising our 2025 consolidated adjusted EBITDA guideposts to $1.30 to $1.35 billion as well as raising our RemainCo adjusted EBITDA guidance to $350 to $375 million,” said Chuck Treadway, President and Chief Executive Officer.

We now expect our CCS deal to close in the first quarter of 2026. When the deal closes, we plan to repay all existing debt, redeem our preferred equity and add modest new leverage to the remaining company. This will generate significant excess cash, and we expect to distribute a substantial portion of such excess cash to our common shareholders as a special dividend within 60 to 90 days following the closing of the transaction. The exact amount of the special dividend will be determined after the CCS closing, taking into account all relevant factors at the time.

“We are extremely happy with our strong cash flow generation. During the quarter, we increased our cash balance by $134 million and ended the quarter with $705 million of cash. As evidenced by the third quarter results in ANS and RUCKUS, we are excited about the future of the remaining company. On a twelve-month trailing basis, ANS and RUCKUS Non-GAAP adjusted EBITDA was $344 million, an increase of 135% versus the previous twelve-month period,” said Kyle Lorentzen, Chief Financial Officer.

Third Quarter Results and Comparisons

Consolidated net sales in the third quarter of 2025 increased 50.6% year-over-year to $1.63 billion due to higher net sales in all segments. Consolidated net sales increased across all regions, except the Caribbean and Latin America region.

Income from continuing operations of $106.9 million, or $0.38 per diluted share, in the third quarter of 2025, increased compared to the prior year period

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Second Quarter 2025 Results

Second Quarter Highlights

• Net sales of $1.39 billion

• GAAP income from continuing operations of $29.4 million

• Non-GAAP adjusted EBITDA of $337.8 million (1)

• Cash flow generated by operations of $77.1 million and free cash flow of $64.5 million (1) (2)

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

CLAREMONT, NC, August 4, 2025 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended June 30, 2025.

Summary of Consolidated Results

Q2

Q2

% Change

2025

2024

YOY

(in millions, except per share amounts)

Net sales

$

1,388.1

$

1,053.6

31.7

%

GAAP income (loss) from continuing operations

29.4

(56.2

)

NM

GAAP income (loss) from continuing operations per share

0.05

(0.34

)

NM

Non-GAAP adjusted EBITDA (1)

337.8

188.7

79.0

Non-GAAP adjusted net income per diluted share (1)

0.44

0.03

1,366.7

%

NM – Not meaningful

(1) See “Non-GAAP Financial Measures” below.

We are extremely pleased with our outstanding results in the second quarter. CommScope net sales of $1.39 billion increased 31.7% from the prior year. Net sales were positively supported by stronger-than-expected results across all segments. Non-GAAP adjusted EBITDA was $338 million, a strong improvement of 79% year-over-year, marking the fifth consecutive quarter. Second quarter adjusted EBITDA as a percentage of revenues was 24.3%, compared to 17.9% in the prior year, a year-over-year improvement of 640 basis points. “We are well positioned for future growth and are raising our 2025 adjusted EBITDA guideposts to $1.15 to $1.20 billion,” said Chuck Treadway, President and Chief Executive Officer.

He continued, “As announced, CommScope entered into a definitive agreement to sell its CCS segment to Amphenol (NYSE: APH). Upon closing, CommScope will receive approximately USD $10.5 billion in cash. The sale is expected to close in the first half of 2026, subject to customary closing conditions, including receipt of applicable regulatory and shareholder approvals. This transformational deal unlocks equity value, returns cash to our shareholders and strengthens the remaining businesses. Amphenol is a strong buyer of the CCS assets. Our customers, and employees going with the transaction will be in very good hands. I am very excited for the future of ANS and RUCKUS as both businesses have recovered from their prior year challenges and are positioned for growth.”

“With the proceeds from the recently announced transaction, we expect to repay all existing debt, redeem our preferred equity and add modest leverage to the remaining company. We will have significant excess cash. We expect to distribute this excess cash to our common shareholders as a dividend within 60 to 90 days following the closing of the proposed transaction after taking into account all relevant factors. The exact amount and timing of the dividend will be determined by the Company after closing. As evidenced by the second quarter results in ANS and RUCKUS, we are excited about the future of the remaining company. On a twelve-month trailing basis, ANS and RUCKUS Non-GAAP adjusted EBITDA was $300 million on Net Sales of $1.7 billion,” said Kyle Lorentzen, Chief Financial Officer.

As a result of divesting the Distributed Antenna Systems (DAS) business during the quarter ended March 31, 2025, the Company has changed the name of its Networking, Intelligent Cellular & Security Solutions (NICS) segment to RUCKUS, effective as of April 1, 2025. There were no changes to the composition of the Company’s operating or reportable segments, the financial information reviewed by the chief operating decision maker (CODM), or historical segment operating results as a result of this change.

Second Quarter Results and Comparisons

Net sales in the second quarter of 2025 increased 31.7% year-over-year to $1.39 billion due to higher net sales in all segments. Net sales increased across all regions, except the Caribbean and Latin America region and Canada, in the second quarter of 2025.

Income from continuing operations of $29.4 million, or $0.05 per diluted share, in the second quarter of 2025, increased compared to the prior year period’s loss from continuing operations of $(56.2) million, or $(0.34) per share. Non-GAAP adjusted net income for the second quarter of 2025 was $119.4 million, or $0.44 per diluted share, versus $8.6 million, or $0.03 per share, in the second quarter of 2024.

Non-GAAP adjusted EBITDA increased 79.0% to $337.8 million in the second quarter of 2025 compared to the same period last year. Non-GAAP adjusted EBITD

EX-99.1

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EX-99.1

Exhibit 99.1

CommScope Reports First Quarter 2025 Results

First Quarter Highlights

• Net sales of $1.11 billion

• GAAP income from continuing operations of $289.7 million

• Core non-GAAP adjusted EBITDA of $245.2 million* (1)

• Non-GAAP adjusted EBITDA of $240.3 million (1)

• Cash flow used in operations of $(186.9) million and free cash flow of $(202.4) million (1) (2)

* Core financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Outdoor Wireless Networks (OWN) segment, Distributed Antenna Systems (DAS) business unit and Home Networks (Home) segment, since these costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, these costs related to our Home segment have been reallocated to our remaining segments and partially offset by income from the Vantiva TSA. Beginning in the first quarter of 2025, these costs related to our OWN segment and DAS business unit have been reallocated to our remaining segments and partially offset by income from the Amphenol TSA. See the segment comparison tables below showing the aggregation of the Core financial measures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

CLAREMONT, NC, May 1, 2025 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended March 31, 2025.

Summary of Consolidated Results

Q1

Q1

% Change

2025

2024

YOY

(in millions, except per share amounts)

Net sales

$

1,112.2

$

900.9

23.5

%

GAAP income (loss) from continuing operations

289.7

(242.9

)

NM

GAAP income (loss) from continuing operations per share

1.06

(1.22

)

NM

Non-GAAP adjusted EBITDA (1)

240.3

84.1

185.7

Core non-GAAP adjusted EBITDA (1) (2)

245.2

94.6

159.2

Non-GAAP adjusted net income (loss) per diluted share (1)

0.14

(0.24

)

NM

NM – Not meaningful

(1) See “Non-GAAP Financial Measures” below.

(2) Core financial measures reflect the results of the CCS, NICS and ANS segments, in the aggregate, and exclude general corporate costs that were previously allocated to our OWN segment, DAS business unit and Home segment, since these costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, these costs related to our Home segment have been reallocated to our remaining segments and partially offset by income from the Vantiva TSA. Beginning in the first quarter of 2025, these costs related to our OWN segment and DAS business unit have been reallocated to our remaining segments and partially offset by income from the Amphenol TSA.

“We are off to an encouraging start in 2025 resulting in strong year-over-year growth in revenue and adjusted EBITDA. For the first quarter of 2025, CommScope reported net sales of $1.11 billion, an increase of 23.5% from the prior year and delivered Core non-GAAP adjusted EBITDA of $245 million, a strong improvement of 159.2% year-over-year and fourth consecutive quarter of improvement. First quarter Core adjusted EBITDA as a percentage of revenues was 22.0%, compared to 10.5% in the prior year, a year-over-year improvement of 1,150 basis points. Our CCS segment led the way with a particularly strong performance in data center where we grew year-over-year revenue by 88%. As we continue to navigate the fluid tariff environment, we stay committed to our strategy of focusing on what we can control to drive company performance and profitability. We will use our global manufacturing footprint, broad supplier base and pricing to manage the current tariff environment. We feel we are well positioned for growth throughout the rest of 2025 and are confirming our 2025 Core adjusted EBITDA guideposts of $1.00 to $1.05 billion.” said Chuck Treadway, President and Chief Executive Officer.

“As previously reported, on January 31, 2025 CommScope completed the sale of the OWN segment and DAS business unit of the NICS segment to Amphenol Corporation. As a result of the sale, net proceeds were used to repay all outstanding amounts under the Company’s asset-based revolving credit facility, repay in part the Company’s 4.750% Senior Secured Notes due 2029, repay in full the Company’s 6.000% Senior Secured Notes due 2026 and pay fees and expenses associated with the transaction. Therefore, our next credit maturity is not due until 2027. We ended the quarter with significant liquidity in cash and availability under our ABL credit facility of approximat

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Fourth Quarter and Full Year 2024 Results

Fourth Quarter Highlights

• Net sales of $1.17 billion

• GAAP loss from continuing operations of $65.2 million

• Non-GAAP adjusted EBITDA of $223.1 million (1)

• Core non-GAAP adjusted EBITDA of $240.4 million* (1)

• Cash flow generated by operations of $277.8 million and free cash flow of $270.5 million (1) (2)

Full Year Highlights

• Net sales of $4.21 billion

• GAAP loss from continuing operations of $461.0 million

• Non-GAAP adjusted EBITDA of $700.2 million (1)

• Core non-GAAP adjusted EBITDA of $756.4 million* (1)

• Cash flow generated by operations of $273.1 million and free cash flow of $247.8 million (1) (2)

* Core financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Outdoor Wireless Networks (OWN) segment, Distributed Antenna Systems (DAS) business unit and Home Networks (Home) segment. These indirect costs are classified as continuing operations, since they were not directly attributable to these discontinued operations. See the segment comparison tables below showing the aggregation of the Core financial measures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

CLAREMONT, NC, February 26, 2025 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter and year ended December 31, 2024.

Summary of Consolidated Results

Q4

Q4

% Change

2024

2023 (1)

YOY

(in millions, except per share amounts)

Net sales

$

1,169.1

$

923.1

26.6

%

GAAP loss from continuing operations

(65.2

)

(414.0

)

(84.2

)

GAAP loss from continuing operations per share

(0.38

)

(2.02

)

(81.2

)

Non-GAAP adjusted EBITDA (2)

223.1

119.4

86.9

Core non-GAAP adjusted EBITDA (2) (3)

240.4

142.5

68.7

Non-GAAP adjusted net income (loss) per diluted share (2)

0.18

(0.34

)

NM

Full Year

Full Year

% Change

2024

2023 (1)

YOY

(in millions, except per share amounts)

Net sales

$

4,205.8

$

4,565.2

(7.9

)%

GAAP loss from continuing operations

(461.0

)

(1,095.8

)

(57.9

)

GAAP loss from continuing operations per share

(2.46

)

(5.49

)

(55.2

)

Non-GAAP adjusted EBITDA (2)

700.2

664.3

5.4

Core non-GAAP adjusted EBITDA (2) (3)

756.4

756.4

—

Non-GAAP adjusted net loss per diluted share (2)

(0.03

)

(0.37

)

(91.9

)

NM – Not meaningful

(1) Certain amounts have been adjusted to reflect the correction of immaterial errors as described in the Annual Report on Form 10-K.

(2) See “Non-GAAP Financial Measures” below.

(3) Core financial measures reflect the results of the CCS, NICS (excluding DAS) and ANS segments, in the aggregate, and exclude general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment, since these costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, these costs related to the Home segment have been reallocated to the remaining segments. These costs related to the OWN segment and DAS business unit will be reallocated to the remaining segments beginning in the first quarter of 2025.

“2024 marked a transitional year for CommScope. Despite a challenging start, and volatile market conditions, we stayed committed to what we could control to improve company performance and profitability with sequential Core quarterly adjusted EBITDA improvement throughout the year. For the fourth quarter, Core CommScope reported net sales of $1.17 billion, an increase of 27% from the prior year and delivered adjusted EBITDA of $240 million, an improvement of 69% year-over-year. Fourth quarter adjusted EBITDA as a percentage of revenues was 20.6%, a year-over-year improvement of 510 basis points. Supported by our investments in production capacity, the CCS segment led the way with growth in all businesses, with the strongest growth in hyperscale and cloud data centers to support GenAI datacenter builds across the world,” said Chuck Treadway, President and Chief Executive Officer.

“For the full year 2024, Core CommScope reported net sales of $4.21 billion declining 8% from the prior year but delivered adjusted EBITDA of $756 million which remained flat year over year. With improvement throughout the year, we are well positioned as we move into 2025. Our 2025 annual guideposts of Core adjusted EBITDA are in the range of $1.00 to $1.05 billion,” said Kyle Lorentzen, Chief Financial Officer.

Free cash

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Third Quarter 2024 Results

Third Quarter Highlights

• Net sales of $1.08 billion

• GAAP loss from continuing operations of $(96.7) million

• Non-GAAP adjusted EBITDA of $204.2 million (1)

• Core non-GAAP adjusted EBITDA of $220.4 million* (1)

• Cash flow generated by operations of $122.2 million and free cash flow of $115.5 million (1) (2)

* Core financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS) excluding Distributed Antenna Systems (DAS), and Access Network Solutions (ANS) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Outdoor Wireless Networks (OWN) segment, DAS business unit and Home Networks (Home) segment. These indirect costs are classified as continuing operations, since they were not directly attributable to these discontinued operations. See the segment comparison tables below showing the aggregation of the Core financial measures.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

(2) The cash flows related to discontinued operations have not been segregated. Accordingly, this cash flow information includes the results of continuing and discontinued operations.

CLAREMONT, NC, November 7, 2024 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2024.

Summary of Consolidated Results

Q3

Q3

% Change

2024

2023

YOY

(in millions, except per share amounts)

Net sales

$

1,082.2

$

1,053.4

2.7

%

GAAP loss from continuing operations

(96.7

)

(533.8

)

(81.9

)

GAAP loss from continuing operations per share

(0.52

)

(2.59

)

NM

Non-GAAP adjusted EBITDA (1)

204.2

156.8

30.2

Core non-GAAP adjusted EBITDA (1) (2)

220.4

176.3

25.0

Non-GAAP adjusted net loss per diluted share (1)

(0.05

)

(0.12

)

NM

NM – Not meaningful

(1) See “Non-GAAP Financial Measures” below.

(2) Core financial measures reflect the results of the CCS, NICS (excluding DAS) and ANS segments, in the aggregate, and exclude general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment, since these costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, these costs related to the Home segment have been reallocated to the remaining segments. These costs related to the OWN segment and DAS business unit will be reallocated to the remaining segments beginning in the first quarter of 2025.

“In the third quarter, CommScope delivered net sales of $1.082 billion, up 3% from the prior year, and Core adjusted EBITDA of $220 million, up 25% from the prior year. These results were primarily driven by strength in our CCS segment which delivered $174 million of adjusted EBITDA, an increase of 115% from the prior year. In addition to the CCS segment, we saw a sequential recovery in our Core NICS segment (excluding DAS). I’m pleased with our third quarter performance as we sequentially improved both revenue and adjusted EBITDA from the second quarter and saw a year-over-year improvement. Visibility continues to remain limited as upgrade timing and magnitude of network upgrades remain uncertain. We would expect to see continued momentum in all of our businesses over the next several quarters as we have made the investments in our products to help our customers deliver their next generations networks. We continue to control what we can, which was demonstrated by our third quarter 2024 Core adjusted EBITDA as a percentage of revenue of 20.4%, a significant improvement compared to 16.7% in the same prior year period,” said Chuck Treadway, President and Chief Executive Officer.

“For the third quarter, CommScope (including OWN and DAS) reported net sales of $1.414 billion, an increase of 5% from the prior year. Adjusted EBITDA of $308 million increased by 27%. We have narrowed our full year Core adjusted EBITDA guideposts to $700 to $750 million. We finished the third quarter with strong total liquidity of more than $1.02 billion including cash at quarter end of $456 million. In the third quarter, we engaged with our current creditors to address our debt maturities, and those conversations continue to be constructive,” added Kyle Lorentzen, Chief Financial Officer.

In the third quarter of 2024, CommScope entered into an agreement with Amphenol Corporation to divest of its OWN segment and DAS business unit. We expect the transaction to close in the first quarter of 2025. As a result of the pending transaction, unless otherwise noted, these financial results relate to CommScope’s continuing operations based on the following remaining three operating segments: CCS, NICS (excluding DAS) and ANS. For all periods presented, amounts ha

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Second Quarter 2024 Results

Second Quarter Highlights

• Consolidated net sales of $1.39 billion

• Core net sales of $1.05 billion*

• GAAP income from continuing operations of $74.8 million

• Consolidated non-GAAP adjusted EBITDA of $302.1 million (1)

• Core non-GAAP adjusted EBITDA of $201.1 million* (1)

• Cash flow generated by operations of $50.8 million and non-GAAP adjusted free cash flow of $68.7 million (1)

* Core financial measures exclude the results and performance of the Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit of the Networking, Intelligent Cellular & Security Solutions (NICS) segment of $333 million of net sales and $101 million of non-GAAP adjusted EBITDA. See “Core Measures” below.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

CLAREMONT, NC, August 8, 2024 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended June 30, 2024.

Summary of Consolidated Results

Q2

Q2

% Change

2024

2023

YOY

(in millions, except per share amounts)

Consolidated net sales

$

1,386.9

$

1,588.8

(12.7

)%

Core net sales (1)

1,053.6

1,269.2

(17.0

)

GAAP income (loss) from continuing operations

74.8

(63.1

)

NM

GAAP income (loss) from continuing operations per share

0.27

(0.37

)

NM

Consolidated non-GAAP adjusted EBITDA (2)

302.1

252.7

19.5

Core non-GAAP adjusted EBITDA (1) (2)

201.1

201.7

(0.3

)

Non-GAAP adjusted net income per diluted share (2)

0.34

0.17

100.0

NM – Not meaningful

(1) Core financial measures exclude the results and performance of the OWN segment and DAS business unit in the NICS segment.

(2) See “Non-GAAP Financial Measures” below.

“As expected, our second quarter results improved from the first quarter. Our performance in our Core businesses was mixed with strength in Connectivity and Cable Solutions (CCS) and continued weakness in Access Network Solutions (ANS) and NICS. Our focus on profitability through CommScope NEXT during the downturn is now paying dividends as our Core EBITDA margin in the second quarter was 19.1% up from 10.2% in the first quarter and 15.9% in the second quarter of 2023. We are pleased with our CCS performance as datacenter and GenAI was a strong driver of growth. We are well positioned to take advantage of what we believe to be a multi-year growth cycle in this business. CCS adjusted EBITDA of $173 million improved versus prior year and the first quarter of 2024 by 107% and 80%, respectively. Despite an improved second quarter, visibility remains limited as customers continue to deal with higher-than-normal inventory levels and upgrade cycles are delayed. As previously reported, CommScope entered into a definitive agreement to sell its OWN segment as well as the DAS business unit of the NICS segment to Amphenol Corporation (NYSE: APH). Upon closing, CommScope will receive approximately $2.1 billion in cash,” said Chuck Treadway, President and Chief Executive Officer.

“Despite improved performance sequentially, Core CommScope net sales declined 17% from the prior year to $1.05 billion and delivered adjusted EBITDA of $201 million. Although visibility remains limited, our full year Core adjusted EBITDA guideposts are $700 to $800 million. We continue to evaluate capital structure alternatives and expect to meet with our existing lenders in the third quarter to address the upcoming debt maturities. We finished the quarter with significant liquidity of $880 million,” said Kyle Lorentzen, Chief Financial Officer.

Second Quarter Results and Comparisons

Net sales in the second quarter of 2024 decreased 12.7% year-over-year to $1.39 billion. Core net sales decreased 17.0% year-over-year due to lower net sales in the ANS and NICS (excluding DAS) segments, partially offset by stronger sales in the CCS segment. Net sales decreased across all regions, except the Canada region, in the second quarter of 2024.

Income from continuing operations of $74.8 million, or $0.27 per share, in the second quarter of 2024, improved compared to the prior year period's loss from continuing operations of $(63.1) million, or $(0.37) per share. Non-GAAP adjusted net income for the second quarter of 2024 was $86.9 million, or $0.34 per share, versus $44.2 million, or $0.17 per share, in the second quarter of 2023.

Non-GAAP adjusted EBITDA increased 19.5% to $302.1 million in the second quarter of 2024 compared to the same period last year. Non-GAAP adjusted EBITDA as a percentage of net sales increased to 21.8% in the second quarter of 2024 compared to 15.9% in the same prior year period. Core non-GAAP adjusted EBITDA decreased 0.3% to $201.1 million in the second quarter of 2024 compared to the same prior year period. Core non-GAAP adjusted EBITDA as a percentage of net sale

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Announces Preliminary Second Quarter 2024 Results

Preliminary Second Quarter Results

• Consolidated net sales of $1.39 billion

• Core net sales of $1.05 billion*

• GAAP income from continuing operations of $75 million

• Consolidated non-GAAP adjusted EBITDA of $302 million(1)

• Core non-GAAP adjusted EBITDA of $201 million*(1)

* Core financial measures exclude the results and performance of our Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit of our Networking, Intelligent Cellular & Security Solutions (NICS) segment of $333 million of net sales and $101 million of non-GAAP adjusted EBITDA. See “Core Measures” below.

(1) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

CLAREMONT, NC, July 29, 2024 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, is reporting preliminarily results for the quarter ended June 30, 2024.

Second quarter 2024 CommScope Net Sales are expected to be $1.39 billion, with Core Net Sales of $1.05 billion. Net sales were positively supported by stronger-than-expected Connectivity and Cable Solutions (CCS) and OWN segment performance, partially offset by significantly weaker NICS and Access Network Solutions (ANS) sales. Our CCS and OWN segments benefited from customers normalizing inventory levels in the quarter and increased demand for our products in several key business units. GAAP income from continuing operations for the quarter is expected to be $75 million. Non-GAAP adjusted EBITDA is expected to be $302 million and Core Non-GAAP adjusted EBITDA for the quarter is expected to be $201 million. Second quarter 2024 Non-GAAP adjusted Free Cash Flow(1)is expected to be $69 million, and Cash and Cash Equivalents at the end of the quarter are expected to be $346 million. On a twelve-month trailing basis, Non-GAAP adjusted EBITDA was $888 million on Net Sales of $5.1 billion, while Core Non-GAAP adjusted EBITDA was $603 million on Core Net Sales of $3.9 billion. Trailing-twelve-month Core Non-GAAP adjusted EBITDA and Core Net Sales exclude the results and performance of our OWN segment and DAS business unit of our NICS segment of $285 million of Non-GAAP adjusted EBITDA and $1.16 billion of Net Sales.

“Throughout the first half of this year, we navigated uncertainty and depressed market conditions in many of our business units. However, we saw improvement in our second quarter Core performance driven by strength in our CCS segment, specifically our datacenter and cloud business. Additionally, customer inventory levels have continued to show signs of stability. Despite these positive trends, visibility remains limited as we move into the second half of the year,” said Chuck Treadway, President and CEO of CommScope.

“CommScope continues to explore alternatives to address its capital structure, leveraging the flexibility available to us in our credit documents,” Treadway continued. “We expect to engage with our lenders and bondholders in the third quarter to discuss options to deleverage our balance sheet and address our upcoming maturities.”

Earlier this month, CommScope entered into a definitive agreement to sell its OWN segment as well as the DAS business unit of the NICS segment to Amphenol Corporation (NYSE: APH). Upon closing, CommScope will receive $2.1 billion in cash and is expected to complete the transaction in the first half of 2025.

The expected second quarter 2024 results set out above are still preliminary and subject to the Company’s quarter-end close procedures. The Company’s consolidated financial statements as of, and for the three months ended, June 30, 2024 are not yet available. Accordingly, the information presented herein reflects the Company’s preliminary estimates subject to the completion of the Company’s financial closing procedures and any adjustments that may result from the completion of the quarterly review of the Company’s consolidated financial statements. As a result, these preliminary estimates may differ from the actual results that will be reflected in the Company’s consolidated financial statements for the second quarter when they are completed and publicly disclosed. These preliminary estimates may change and those changes may be material. The Company’s expectations with respect to its unaudited results for the period discussed above are based upon management estimates.

Conference Call, Webcast and Investor Presentation

As previously announced, CommScope will host a conference call on August 8th at 8:30 a.m. ET in which management will discuss second quarter 2024 results. The conference call will also be webcast.

The live, listen-only audio of the call will be available through a link on the Events and Presentations page of CommScope’s Investor Relations website.

A webcast replay will be archived on CommScope’s webs

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports First Quarter 2024 Results

First Quarter Highlights

• Net sales of $1.168 billion

• GAAP loss from continuing operations of $(262.1) million

• Non-GAAP adjusted EBITDA of $153.0 million

• Cash flow used in operations of $(177.7) million and non-GAAP adjusted free cash flow of $(154.1) million

CLAREMONT, NC, May 9, 2024 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended March 31, 2024.

Summary of Consolidated Results

Q1

Q1

% Change

2024

2023

YOY

(in millions, except per share amounts)

Net sales

$

1,168.4

$

1,664.4

(29.8

)%

GAAP income (loss) from continuing operations

(262.1

)

29.8

(979.5

)

GAAP income (loss) from continuing operations per share

(1.31

)

0.07

(1,961.5

)

Non-GAAP adjusted EBITDA (1)

153.0

313.7

(51.2

)

Non-GAAP adjusted net income (loss) per diluted share (1)

(0.08

)

0.34

(123.5

)

(1) See “Non-GAAP Financial Measures” below.

“As expected, our first quarter was a challenging quarter as we continued to deal with lower demand. On a positive note, we have begun to see early signs of recovery in our Connectivity and Cable Solutions and Outdoor Wireless Networks businesses as order rates increased sequentially in the first quarter for those two businesses. These favorable trends were offset by significantly lower demand for Networking, Intelligent Cellular and Security Solutions and Access Network Systems as customers managed inventory and timing of upgrade cycles. Overall, we continue to be bullish on medium- and long-term recovery in all of our businesses. We continue to manage the levers that we can control, such as customer interface, costs, new product development and capital. We are very focused on supporting our customers and we appreciate their support. We are confident that market conditions will improve and we are well positioned to capture the recovery in all segments,” said Chuck Treadway, President and Chief Executive Officer.

“For the first quarter, CommScope net sales declined 30% from the prior year to $1.17 billion and delivered adjusted EBITDA of $153 million, which was higher than our previously provided guidance range but down 51% from the prior year. Adjusted EPS was a loss of $(0.08) per share. Based on current visibility, we expect the first quarter to be the lowest revenue and adjusted EBITDA quarter of the year. We continue to evaluate capital structure alternatives, including asset sales, to address the upcoming debt maturities. We finished the quarter with significant liquidity of over $900 million,” said Kyle Lorentzen, Chief Financial Officer.

On January 9, 2024, CommScope completed the sale of its Home business to Vantiva SA. As a result, unless otherwise noted, these financial results relate to CommScope’s continuing operations, which include the Company’s remaining four operating segments: Connectivity and Cable Solutions (CCS), Outdoor Wireless Networks (OWN), Networking, Intelligent Cellular and Security Solutions (NICS) and Access Network Solutions (ANS). For all periods presented, amounts have been recast to reflect these changes.

Impacts of Current Economic Conditions

In 2023, macroeconomic factors such as higher interest rates, inflation and concerns about a global economic slow-down softened demand for CommScope's products, with certain customers reducing purchases as they right-size their inventories and others pausing capital spending. This industry recession has continued to negatively impact the Company's net sales in all segments for the first quarter of 2024. CommScope does not expect to begin to see a recovery in demand until in the second half of 2024.

In 2023, CommScope began implementing additional cost savings initiatives to improve profitability, and the Company continued to implement further initiatives during the three months ended March 31, 2024. These initiatives should enable the Company to take advantage of the expected recovery in demand in the second half of 2024. If the expected recovery in demand of CommScope's products does not occur in 2024, the Company's outlook will be materially impacted.

First Quarter Results and Comparisons

Net sales in the first quarter of 2024 decreased 29.8% year-over-year to $1.168 billion due to lower net sales in the CCS, NICS, OWN and ANS segments. Net sales decreased across all regions in the first quarter of 2024.

Loss from continuing operations of $(262.1) million, or $(1.31) per share, in the first quarter of 2024, decreased compared to the prior year period's income from continuing operations of $29.8 million, or $0.07 per share. Non-GAAP adjusted net loss for the first quarter of 2024 was $(20.3) million, or $(0.08) per share, versus $86.7 million, or $0.34 per share, in the first quarter of 2023.

Non-GAAP adjusted EBITDA decreased 51.2% to $153.0 million in the first quarter of 20

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Fourth Quarter and Full Year 2023 Results

Fourth Quarter Highlights

• Net sales of $1.186 billion

• GAAP loss from continuing operations of $339.0 million, including asset impairments of $145.4 million

• Non-GAAP adjusted EBITDA of $190.7 million

• Core segment adjusted EBITDA of $198.9 million*

• Cash flow generated by operations of $60.4 million and non-GAAP adjusted free cash flow of $91.5 million

Full Year Highlights

• Net sales of $5.789 billion

• GAAP loss from continuing operations of $851.3 million, including asset impairments of $571.4 million

• Non-GAAP adjusted EBITDA of $999.0 million

• Core segment adjusted EBITDA of $1.022 billion*

• Cash flow generated by operations of $289.9 million and non-GAAP adjusted free cash flow of $382.3 million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), Outdoor Wireless Networks (OWN) and Access Network Solutions (ANS) segments, in the aggregate. Core financial measures exclude general corporate costs that were previously allocated to the Home Networks (Home) segment and are now classified as continuing operations, since the costs were not directly attributable to the discontinued operations of the Home segment. See the segment comparison tables below showing the aggregation of the Core financial measures.

CLAREMONT, NC, February 29, 2024 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter and year ended December 31, 2023.

Summary of Consolidated Results

Q4

Q4

% Change

2023

2022

YOY

(in millions, except per share amounts)

Net sales

$

1,185.9

$

1,925.5

(38.4

)%

GAAP loss from continuing operations

(339.0

)

(1,060.5

)

(68.0

)

GAAP loss from continuing operations per share

(1.67

)

(5.16

)

(67.6

)

Non-GAAP adjusted EBITDA

190.7

375.2

(49.2

)

Core segment adjusted EBITDA

198.9

380.7

(47.8

)

Non-GAAP adjusted net income (loss) per diluted share

(0.02

)

0.55

(103.6

)

Full Year

Full Year

% Change

2023

2022

YOY

(in millions, except per share amounts)

Net sales

$

5,789.2

$

7,524.7

(23.1

%)

GAAP loss from continuing operations

(851.3

)

(1,184.7

)

(28.1

)

GAAP loss from continuing operations per share

(4.33

)

(6.00

)

(27.8

)

Non-GAAP adjusted EBITDA

999.0

1,223.4

(18.3

)

Core segment adjusted EBITDA

1,022.2

1,250.4

(18.3

)

Non-GAAP adjusted net income per diluted share

0.64

1.63

(60.7

)

“As we closed a challenging year, CommScope net sales declined 23% from the prior year to $5.79 billion and delivered adjusted EBITDA at the midpoint of our range at $1.02 billion down 18% from the prior year. As previously discussed, all of our businesses had significant pressure by year end. In addition to the challenges we have been experiencing in CCS, OWN and ANS, we have started to see similar adjustments in the NICS business as customers continued to digest inventory. Although we believe there will be a market recovery in the second half of 2024, visibility continues to be limited on the timing and extent of that recovery. As stated, we are targeting an additional $100 million of cost savings in early 2024. Our cost actions as well as our investments in capacity that we have implemented will better position us when demand returns to more normalized levels,” said Chuck Treadway, President and Chief Executive Officer.

“For the fourth quarter, CommScope reported consolidated net sales of $1.186 billion, a decrease of 38% from the prior year, driven by declines in all of the segments. As a result of lower revenues, adjusted EBITDA of $191 million, declined 49% versus prior year. Adjusted EPS was a loss of $0.02 per share. As we turn our focus to 2024, based on the lack of visibility on timing of a market recovery, we are not providing updated 2024 annual guideposts at this time. As we continue to deal with lower market demand, we would expect that the first quarter Core adjusted EBITDA to be in the range of $100 to $125 million,” said Kyle Lorentzen, Chief Financial Officer.

As previously announced, in the fourth quarter of 2023, CommScope entered into an agreement with Vantiva SA to divest of its Home business. As a result, unless otherwise noted, these financial results relate to CommScope’s continuing operations, which include the Company’s remaining four operating segments: CCS, OWN, NICS and ANS. For all periods presented, amounts have been recast to reflect these changes. The divestiture of Home closed on January 9, 2024.

Impacts of Current Economic Conditions

In 2023, macroeconomic factors such as higher interest rates and concerns about continued inflation and a global economic slow-down softened demand for CommScope’s products, with certain customers reducing purchases

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Third Quarter 2023 Results

Third Quarter Highlights

• Net sales of $1.600 billion

• Core net sales of $1.350 billion*

• GAAP net loss of $828.7 million, including asset impairments of $895.1 million

• Non-GAAP adjusted EBITDA of $248.6 million

• Core adjusted EBITDA of $245.5 million*

• Cash flow generated by operations of $138.8 million and non-GAAP adjusted free cash flow of $181.7 million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), Outdoor Wireless Networks (OWN) and Access Network Solutions segments (ANS), in the aggregate. Core financial measures exclude the results and performance of the Home Networks (Home) segment. See the third quarter segment comparison tables below showing the aggregation of the Core financial measures.

CLAREMONT, NC, November 9, 2023 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2023.

Summary of Consolidated Results

Q3

Q3

% Change

2023

2022

YOY

(in millions, except per share amounts)

Net sales

$

1,599.5

$

2,381.4

(32.8

)%

Core net sales (1)

1,350.1

1,990.0

(32.2

)

GAAP net income (loss)

(828.7

)

22.9

(3,718.8

)

GAAP net income (loss) per share

(3.98

)

0.04

(10,050.0

)

Non-GAAP adjusted EBITDA (2)

248.6

347.6

(28.5

)

Core adjusted EBITDA (1)

245.5

352.9

(30.4

)

Non-GAAP adjusted net income per diluted share (2)

0.13

0.50

(74.0

)

NM – Not meaningful

(1) “Core” financial measures reflect the results of the CCS, NICS, OWN and ANS segments, in the aggregate, and exclude the results of the Home segment. See the third quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See “Non-GAAP Financial Measures” and “Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures” below.

“In the third quarter, CommScope net sales declined 33% from the prior year to $1.600 billion and adjusted EBITDA declined 28% to $249 million. As discussed previously, our CCS and OWN businesses have been experiencing lower order rates since the beginning of the year and we have seen no meaningful recovery in the third quarter. In addition to the challenges we have been experiencing in CCS and OWN, we have started to see similar adjustments in ANS. We expect these difficult market conditions to continue over the next few quarters as customers manage inventories and cash. We continue to manage what we can control including costs. We are targeting an additional $100 million cost savings by the end of Q1 2024. Our cost actions this year will better position the Company when demand returns to more normalized levels,” said Chuck Treadway, President and Chief Executive Officer.

“Based on current visibility driven by a weaker demand outlook for the remainder of 2023, we reduced our Core adjusted EBITDA guideposts to a range of $1.00 to $1.05 billion. We continued to de-lever as we repurchased and retired $26 million of our long-term debt for cash consideration of $17 million bringing the total debt repurchases to $111 million since the beginning of the year. We finished the quarter with a net leverage ratio of 6.7x. Liquidity remained strong at more than $1.29 billion including cash at quarter end of $519 million,” said Kyle Lorentzen, Chief Financial Officer.

Impacts of Current Economic Conditions

Macroeconomic factors such as higher interest rates, inflation and concerns about a global economic slow-down have softened demand for CommScope’s products, with certain customers reducing purchases as they right-size their inventories and others pausing capital spending. This has negatively impacted the Company’s net sales in certain segments during the first three quarters of 2023 and may continue to negatively impact net sales during the remainder of 2023 and into the first half of 2024. Conversely, in some of CommScope’s segments, the Company has seen higher demand and favorable pricing impacts that have partially offset the impact of lower demand in its other segments. CommScope is also seeing lower input costs and has proactively implemented cost savings initiatives that have favorably impacted its profitability in 2023.

Third Quarter Results and Comparisons

Net sales in the third quarter of 2023 decreased 32.8% year-over-year to $1.600 billion. Core net sales decreased 32.2% year-over-year due to lower net sales in the CCS, OWN and ANS segments, partially offset by stronger sales in the NICS segment. Net sales decreased across all regions in the third quarter of 2023.

Net loss attributable to common stockholders of $844.2 million, or $(3.98) per share, in the third quarter of 2023, decreased compared to the prior year period's net income attributable to common stockholde

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Announces Preliminary Third Quarter 2023 Results

Preliminary Third Quarter Results

• Consolidated net sales of $1.60 billion

• Core net sales of $1.35 billion*

• GAAP net loss of $829 million, which includes non-cash asset impairments of $895 million

• Core adjusted EBITDA of $246 million*

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), Outdoor Wireless Networks (OWN) and Access Network Solutions segments (ANS), in the aggregate. Core financial measures exclude the results and performance of the Home Networks (Home) segment of approximately $250 million of net sales and approximately $3 million of adjusted EBITDA.

CLAREMONT, NC, October 30, 2023 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, is preliminarily reporting results for the quarter that ended September 30, 2023.

Third quarter 2023 CommScope net sales are expected to be approximately $1.60 billion with Core net sales at approximately $1.35 billion. Net sales continue to be negatively impacted, particularly in the CCS and OWN segments, by low order rates driven by customers continuing to hold higher than required inventories, uncertain macroeconomic environment and slower service provider network capital expenditure spending. Net loss attributable to common stockholders is expected to be approximately $829 million, which includes non-cash asset impairments related to the Home and ANS segments of approximately $895 million. Non-GAAP adjusted EBITDA is expected to be approximately $249 million and Core non-GAAP adjusted EBITDA is expected to be approximately $246 million.

Based on lower than anticipated third quarter results and the expectations of continued challenges, CommScope has revised its adjusted EBITDA guideposts down. The Company now expects full year 2023 Core adjusted EBITDA to be in the range of $1.00 to $1.05 billion. A reconciliation of the GAAP results to non-GAAP adjusted results is provided as an appendix to this release.

“The weaker macroeconomic backdrop and customer inventory digestion continues to negatively impact revenues, resulting in the Company lowering our prior adjusted EBITDA guideposts,” said Chuck Treadway, President and CEO of CommScope. “As we moved through the quarter, in addition to already discussed challenges in CCS and OWN, we also saw demand weaken in our ANS business where customers are managing higher than required inventory levels and experiencing project delays in some of their upgrade plans. We believe this softer demand environment will continue as we move into the first half of 2024, impacting both revenue and profitability. However, we are encouraged that our work towards efficiencies and cost actions positions us well when the demand for our products returns. Furthermore, we feel we are well-positioned to benefit from major government programs and technology cycles that will enable us to reach our long-term goals, including wireless, government broadband investments and enterprise solutions.”

The expected third quarter 2023 results set out above are still preliminary and subject to the Company’s quarter-end close procedures. The Company’s consolidated financial statements as of, and for the three months ended, September 30, 2023 are not yet available. Accordingly, the information presented herein reflects the Company’s preliminary estimates subject to the completion of the Company’s financial closing procedures and any adjustments that may result from the completion of the quarterly review of the Company’s consolidated financial statements. As a result, these preliminary estimates may differ from the actual results that will be reflected in the Company’s consolidated financial statements for the third quarter when they are completed and publicly disclosed. These preliminary estimates may change and those changes may be material. The Company’s expectations with respect to its unaudited results for the period discussed above are based upon management estimates.

The preliminary full year 2023 financial outlook estimates described above are based on information available to management as of the date of this report, and as a result, these expectations could change.

Conference Call, Webcast and Investor Presentation

As previously announced, CommScope will host a conference call on November 9th at 8:30 a.m. ET in which management will discuss third quarter 2023 results. The conference call will also be webcast.

The live, listen-only audio of the call will be available through a link on the Events and Presentations page of CommScope’s Investor Relations website.

A webcast replay will be archived on CommScope’s website for a limited period of time following the conference call.

During the conference call, the Company may discuss an

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Second Quarter 2023 Results

Second Quarter Highlights

• Net sales of $1.918 billion

• Core net sales of $1.589 billion*

• GAAP net loss of $100.4 million

• Non-GAAP adjusted EBITDA of $259.5 million

• Core adjusted EBITDA of $262.5 million*

• Cash flow generated by operations of $136.8 million and non-GAAP adjusted free cash flow of $148.8 million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), Outdoor Wireless Networks (OWN) and Access Network Solutions segments (ANS), in the aggregate. Core financial measures exclude the results and performance of the Home Networks (Home) segment. See the second quarter segment comparison tables below showing the aggregation of the Core financial measures.

HICKORY, NC, August 3, 2023 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended June 30, 2023.

Summary of Consolidated Results

Q2

Q2

% Change

2023

2022

YOY

(in millions, except per share amounts)

Net sales

$

1,918.4

$

2,300.2

(16.6

)%

Core net sales (1)

1,588.8

1,876.3

(15.3

)

GAAP net loss

(100.4

)

(61.0

)

NM

GAAP net loss per share

(0.55

)

(0.36

)

NM

Non-GAAP adjusted EBITDA (2)

259.5

299.6

(13.4

)

Core adjusted EBITDA (1)

262.5

286.8

(8.5

)

Non-GAAP adjusted net income per diluted share (2)

0.19

0.41

(53.7

)

NM – Not meaningful

(1) “Core” financial measures reflect the results of the CCS, NICS, OWN and ANS segments, in the aggregate, and exclude the results of the Home segment. See the second quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See "Non-GAAP Financial Measures" and "Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures" below.

“CommScope delivered Core net sales of $1.589 billion and Core adjusted EBITDA of $263 million for the second quarter of 2023. Our second quarter in CCS and OWN, was impacted by larger than expected customer inventory corrections, customer capital spending reductions and the macro environment. Despite the market challenges, we continue to manage what we can control including our CommScope NEXT initiatives. Two of our most significant achievements thus far in 2023 are cost efficiencies and NICS performance. On the cost side, we are on track to reduce annualized costs by more than $150 million. In NICS, we achieved a record quarter of adjusted EBITDA of $75 million, up $90 million year-over-year. As we move into the second half, the demand environment, particularly in our CCS and OWN segments, remains uncertain and will impact our 2023 performance. Despite the short-term challenges, we are excited about medium and long-term demand including the continued government and private investment in broadband and fiber,” said Chuck Treadway, President and Chief Executive Officer.

“In the second quarter, CommScope net sales declined 17% from the prior year to $1.918 billion and adjusted EBITDA declined 13% to $260 million. The adjusted EBITDA held up a bit better than our revenue as we continue to drive our CommScope NEXT initiative plan including reducing our fixed costs. We also continued to de-lever as we repurchased and retired $28 million of our long-term debt bringing the total debt repurchases to $85 million since the beginning of the year. We finished the quarter with a net leverage ratio of 6.4x. Liquidity remained strong at more than $1 billion. However, based on current visibility driven by a weaker demand outlook for 2023, we reduced our Core adjusted EBITDA guideposts to a range of $1.15 to $1.25 billion,” said Kyle Lorentzen, Chief Financial Officer.

Impacts of Current Economic Conditions

Macroeconomic factors such as higher interest rates, inflation and concerns about a global economic slow-down have softened demand for CommScope's products, with certain customers reducing purchases as they right-size their inventories and others pausing capital spending. This has negatively impacted the Company's net sales in the first half of 2023 and may continue to negatively impact net sales further into 2023. Conversely, in certain of CommScope's segments, the Company has seen higher demand and favorable pricing impacts that have partially offset the impact of lower demand in certain of its other segments. CommScope is also seeing lower input costs and has proactively implemented cost savings initiatives that have favorably impacted its profitability in the first half of 2023.

Second Quarter Results and Comparisons

Net sales in the second quarter of 2023 decreased 16.6% year-over-year to $1.92 billion. Core net sales decreased 15.3% year-over-year due to lower net sales in the OWN and CCS segments, partially offset by stronger sales in the NICS and ANS seg

EX-99

2 comm-ex99_1.htm

EX-99.1

EX-99

Exhibit 99.1

CommScope Reports First Quarter 2023 Results

First Quarter Highlights

• Net sales of $2.002 billion

• Core net sales of $1.664 billion*

• GAAP net loss attributable to common stockholders of $11.7 million

• Non-GAAP adjusted EBITDA of $312.0 million

• Core adjusted EBITDA of $315.3 million*

• Cash flow used in operations of $(46.1) million and non-GAAP adjusted free cash flow of $(39.7) million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS), Networking, Intelligent Cellular and Security Solutions (NICS), Outdoor Wireless Networks (OWN) and Access Network Solutions segments (ANS), in the aggregate. Core financial measures exclude the results and performance of the Home Networks (Home) segment. See the first quarter segment comparison tables below showing the aggregation of the Core financial measures.

HICKORY, NC, May 4, 2023 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended March 31, 2023.

Summary of Consolidated Results

Q1

Q1

% Change

2023

2022

YOY

(in millions, except per share amounts)

Net sales

$

2,001.5

$

2,228.6

(10.2

)%

Core net sales (1)

1,664.4

1,732.9

(4.0

)

GAAP net income (loss)

3.4

(139.9

)

NM

GAAP net loss per share

(0.06

)

(0.75

)

(92.5

)

Non-GAAP adjusted EBITDA (2)

312.0

253.3

23.2

Core adjusted EBITDA (1)

315.3

230.0

37.1

Non-GAAP adjusted net income

per diluted share (2)

0.35

0.26

34.6

NM – Not meaningful

(1) “Core” financial measures reflect the results of the CCS, NICS, OWN and ANS segments, in the aggregate. Core financial measures exclude the results of the Home segment. See the first quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See description of Non-GAAP Financial Measures and Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures below.

“CommScope delivered Core net sales of $1.66 billion and Core adjusted EBITDA of $315 million for the first quarter of 2023. This represents a 37% improvement in Core adjusted EBITDA over the first quarter of 2022 as our CommScope NEXT initiative continues to support improving EBITDA margins. I’m pleased with our team’s performance as we continue to aggressively manage the components of our business that we control. CommScope NEXT is paying dividends with strong focus on the most important initiatives. A great example of this progress is in our NICS segment where the team delivered $58 million of EBITDA in Q1, a $72 million improvement year-over-year. Current order input remains low as customers deal with high inventory levels and project delays as they manage through the uncertain economic environment. However, market feedback indicates a strong recovery in the second half as fiber deployment, infrastructure upgrades and continued need for more bandwidth drive strong market fundamentals. We are well positioned to take advantage of the growing market, as we announced more capacity additions in our fiber business during the first quarter. Based on current demand visibility driven by customer signaling a strong second half order rate, we maintain our expectation that we will deliver Core adjusted EBITDA in the $1.35 to $1.5 billion range,” said Chuck Treadway, President and Chief Executive Officer.

“We are pleased with our first quarter results as evident by the 37% Core adjusted EBITDA growth year-over year. The improved EBITDA performance allowed us to generate cash that we used to deleverage as we retired $57 million of debt in the first quarter. With our LTM Core adjusted EBITDA of $1,337 million, a 7% improvement over prior quarter, and our debt reduction, we finished the quarter at adjusted leverage ratio of 6.6x. We will continue to focus on deleveraging as we move through 2023,” said Kyle Lorentzen, Chief Financial Officer.

CommScope NEXT

Since 2021, the Company has been engaged in a transformation initiative referred to as CommScope NEXT, which is designed to drive shareholder value through three pillars: profitable growth, operational efficiency and portfolio optimization. CommScope believes these efforts are critical to making the Company more competitive and allowing it to invest in growth, de-lever and maximize stockholder and other stakeholder value in the future.

As a step in the CommScope NEXT transformation plan, in 2021, the Company announced a plan to separate the Home Networks (Home) segment. Due to the impact of the uncertain supply chain environment, capital spending pattern of customers and other macroeconomic factors related to the Home segment, the Company has delayed the separation plan but continues to analyze the financial results of its "Core" business separately from Home. As such, in this comparison discussion, reference is made to certain supplementary Core financial m

EX-99

2 comm-ex99_1.htm

EX-99.1

EX-99

Exhibit 99.1

CommScope Reports Fourth Quarter and Full Year 2022 Results

Fourth Quarter Highlights

• Net sales of $2.318 billion

• Core net sales of $1.926 billion*

• GAAP net loss of $1.109 billion

• Non-GAAP adjusted EBITDA of $376.2 million

• Core adjusted EBITDA of $380.7 million*

• Cash flow generated by operations of $386.8 million and non-GAAP adjusted free cash flow of $402.8 million

Full Year Highlights

• Net sales of $9.228 billion

• Core net sales of $7.525 billion*

• GAAP net loss of $1.287 billion

• Non-GAAP adjusted EBITDA of $1.277 billion

• Core adjusted EBITDA of $1.250 billion*

• Cash flow generated by operations of $190.0 million and non-GAAP adjusted free cash flow of $197.5 million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS); Networking, Intelligent Cellular and Security Solutions (NICS); Outdoor Wireless Networks (OWN); and Access Network Solutions (ANS) segments, in the aggregate, and exclude the results and performance of the Home Networks (Home) segment. See the fourth quarter segment comparison tables below showing the aggregation of the Core financial measures.

HICKORY, NC, February 23, 2023 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter and year ended December 31, 2022.

Summary of Consolidated Results

Q4

Q4

% Change

2022

2021

YOY

(in millions, except per share amounts)

Net sales

$

2,317.9

$

2,224.1

4.2

%

Core net sales (1)

1,925.5

1,747.4

10.2

GAAP net loss

(1,108.8

)

(87.1

)

1,173.0

GAAP net loss per share

(5.39

)

(0.50

)

978.4

Non-GAAP adjusted EBITDA (2)

376.2

260.6

44.4

Core adjusted EBITDA (1)

380.7

253.6

50.1

Non-GAAP adjusted net income per diluted share (2)

0.49

0.31

58.1

Full Year

Full Year

% Change

2022

2021

YOY

(in millions, except per share amounts)

Net sales

$

9,228.1

$

8,586.7

7.5

%

Core net sales (1)

7,524.7

6,737.4

11.7

GAAP net loss

(1,286.9

)

(462.6

)

178.2

GAAP net loss per share

(6.49

)

(2.55

)

154.1

Non-GAAP adjusted EBITDA (2)

1,276.7

1,117.0

14.3

Core adjusted EBITDA (1)

1,250.4

1,091.5

14.6

Non-GAAP adjusted net income per diluted share (2)

1.66

1.39

19.4

(1) “Core” financial measures reflect the results of the CCS, NICS, OWN and ANS segments, in the aggregate, and exclude the results of the Home segment. See the fourth quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See description of Non-GAAP Financial Measures and Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures below.

“I am pleased to share that we delivered Core net sales of $7.52 billion and Core adjusted EBITDA of $1.25 billion for the full year 2022 – meeting the high-end of our 2022 CommScope NEXT target. Our fourth quarter results demonstrated strong execution throughout the company, growing Core net sales 10% from the prior year period and adjusted EBITDA 50% to $381 million – a new high for Core CommScope. Our record fourth quarter performance is a testament to our continued execution to recover inflationary pressures through pricing initiatives in the back half of the year, in addition to the ramping contributions of our CommScope NEXT transformation initiatives across our core portfolio. Specifically, we view the substantial growth contributed by our CCS and NICS segments as the engines of CommScope's future growth,” said Chuck Treadway, President and Chief Executive Officer.

Treadway continued, “Our ability to adapt to significant inflation and a challenging supply chain helped restore Core CommScope margins to be more in-line with historical levels and in particular, generated $364 million in free cash flow during the fourth quarter. These results drove a reduction in net leverage to 6.9x, nearly a full turn of improvement from where we began the year and towards the lower end of our targeted range. As we drive our initiatives forward, we believe CommScope is well-positioned to continue delivering on our targets and create significant incremental shareholder value.”

“Our 2022 performance is a result of strong execution across the entire CommScope team, who continue to deliver on our CommScope NEXT transformation plans. Looking forward, while we continue to see some signs of broader macro-related uncertainty and recessionary risk, we believe our CommScope NEXT actions have enabled the Company to maintain the expectation to deliver Core adjusted EBITDA within the range of $1.35–$1.5 billion for the full year 2023 and continue our trajectory towards significantly deleveraging the company,” said Kyle Lorentzen, Chief Financial Officer.

CommScope NEXT

In 2021, CommScope announced a transformation initiative called CommScope NEXT designed to drive shareholder value through three pillars: profitable growth, oper

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Third Quarter 2022 Results

Third Quarter Highlights

• Net sales of $2.381 billion

• Core net sales of $1.990 billion*

• GAAP net income of $22.9 million

• Non-GAAP adjusted EBITDA of $347.6 million

• Core adjusted EBITDA of $352.9 million*

• Cash flow used in operations of $(87.6) million and non-GAAP adjusted free cash flow of $(91.0) million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions (CCS); Networking, Intelligent Cellular and Security Solutions (NICS), Outdoor Wireless Networks (OWN); and Access Network Solutions segments (ANS), in the aggregate. Core financial measures exclude the results and performance of the Home Networks (Home) segment. See the third quarter segment comparison tables below showing the aggregation of the Core financial measures.

HICKORY, NC, November 3, 2022 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended September 30, 2022.

Summary of Consolidated Results

Q3

Q2

Q3

% Change

% Change

2022

2022

2021

Sequential

YOY

(in millions, except per share amounts)

Net sales

$

2,381.4

$

2,300.2

$

2,105.3

3.5

%

13.1

%

Core net sales (1)

1,990.0

1,876.3

1,690.2

6.1

17.7

GAAP net income (loss)

22.9

(61.0

)

(124.2

)

NM

NM

GAAP net income (loss) per share

0.04

(0.36

)

(0.68

)

NM

NM

Non-GAAP adjusted EBITDA (2)

347.6

299.6

259.1

16.0

34.2

Core adjusted EBITDA (1)

352.9

286.8

274.6

23.0

28.5

Non-GAAP adjusted net income

per diluted share (2)

0.50

0.41

0.29

22.0

72.4

NM - Not Meaningful

(1) “Core” financial measures reflect the results of the CCS, NICS, OWN and ANS segments, in the aggregate. Core financial measures exclude the results of the Home segment. See the third quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See description of Non-GAAP Financial Measures and Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures below.

“I am pleased to share that we delivered Core net sales of $1.99 billion and Core adjusted EBITDA of $353 million for the third quarter of 2022 – our highest performance on record since completing the ARRIS acquisition. As we have continued to reiterate over the last several quarters, we are taking swift action to drive growth in our business and offset inflationary impacts. Our third quarter results, namely turning our NICS segment profitable in the quarter, are a testament to our execution. While supply chain challenges remain and there is broader macroeconomic uncertainty, we maintain our expectation to deliver Core adjusted EBITDA for the full year 2022 within the previously provided range of $1.15–$1.25 billion,” said Chuck Treadway, President and Chief Executive Officer.

Treadway added, “Our CommScope NEXT transformation continues its strong progression in driving organic growth and efficiency opportunities throughout the Core company. Our teams have executed well in ramping capacity, and our general manager model is enabling greater visibility and flexibility in how we manage our business. As we drive all of these initiatives forward, we believe CommScope is well-positioned to deliver on our targets and create significant incremental shareholder value.”

“Our third quarter performance is a result of strong execution across the entire CommScope team, who continue to deliver on our CommScope NEXT transformation plans. As we continue to drive results through the end of the year, we maintain our expectation to deliver on our target net leverage within the range of 6.8x–7.2x. Looking forward, while we are seeing some limited signs of broader macro-related uncertainty and recessionary risk, we believe our CommScope NEXT actions have enabled the Company to maintain the expectation to deliver Core adjusted EBITDA within the range of $1.35–$1.5 billion for the full year 2023,” said Kyle Lorentzen, Chief Financial Officer.

CommScope NEXT

In 2021, CommScope announced a transformation initiative called CommScope NEXT designed to drive shareholder value through three pillars: profitable growth, operational efficiency and portfolio optimization. As a step toward optimizing its portfolio through CommScope NEXT, as of January 1, 2022, the Company reorganized its internal management and reporting structure to align its portfolio of products and solutions more closely with the markets it serves and bring better performance clarity with its competitive peer set. As a result, the Company is reporting financial performance for the 2022 year based on the following operating segments: (i) Connectivity and Cable Solutions (CCS), (ii) Networking, Intelligent Cellular and Security Solutions (NICS), (iii) Outdoor Wireless Networks (OWN), (iv) Access Network Solutions (ANS) and (v) Home Networks (Home). All prior pe

EX-99.1

2 comm-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

CommScope Reports Second Quarter 2022 Results

• Net sales increased 5% year-over-year for consolidated company

• Core CommScope net sales increased 9% year-over-year*

• Momentum continues to build in Connectivity and Cable Solutions as net sales increased 26% year-over-year and 18% quarter-over-quarter

Second Quarter Highlights

• Net sales of $2.300 billion

• Core net sales of $1.876 billion*

• GAAP net loss of $61.0 million

• Non-GAAP adjusted EBITDA of $299.6 million

• Core adjusted EBITDA of $286.8 million*

• Cash flow used in operations of $(94.6) million and non-GAAP adjusted free cash flow of $(90.6) million

* References to certain supplementary “Core” financial measures reflect the results of the Connectivity and Cable Solutions, Outdoor Wireless Networks, Networking, Intelligent Cellular and Security Solutions and Access Network Solutions segments, in the aggregate. Core financial measures exclude the results and performance of the Home Networks segment. See the second quarter segment comparison tables below showing the aggregation of the Core financial measures.

HICKORY, NC, August 4, 2022 — CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, today reported results for the quarter ended June 30, 2022.

Summary of Consolidated Results

Q2

Q1

Q2

% Change

% Change

2022

2022

2021

Sequential

YOY

(in millions, except per share amounts)

Net sales

$

2,300.2

$

2,228.6

$

2,185.3

3.2

%

5.3

%

Core net sales (1)

1,876.3

1,732.9

1,728.8

8.3

8.5

GAAP net loss

(61.0

)

(139.9

)

(153.8

)

(56.4

)

(60.3

)

GAAP net loss per share

(0.36

)

(0.75

)

(0.82

)

(52.0

)

(56.1

)

Non-GAAP adjusted EBITDA (2)

299.6

253.3

307.7

18.3

(2.6

)

Core adjusted EBITDA (1)

286.8

230.0

293.1

24.7

(2.1

)

Non-GAAP adjusted net income

per diluted share (2)

0.41

0.26

0.43

57.7

(4.7

)

(1) “Core” financial measures reflect the results of the Connectivity and Cable Solutions, Outdoor Wireless Networks, Networking, Intelligent Cellular and Security Solutions and Access Network Solutions segments, in the aggregate. Core financial measures exclude the results of the Home Networks segment. See the second quarter segment comparison tables below showing the aggregation of the Core financial measures.

(2) See description of Non-GAAP Financial Measures and Reconciliation of GAAP Measures to Non-GAAP Adjusted Measures below.

“I am pleased to share that we delivered Core net sales of $1.88 billion and Core adjusted EBITDA of $287 million for the second quarter of 2022. As discussed over the last several quarters, we have taken actions to continue to grow our business and offset inflationary impacts. Our second quarter results are a step in that direction, as we have sequentially improved our top-line and profitability, a trend that we expect to continue. Despite supply chain and other macroeconomic challenges, with our robust backlog and solid demand in our key end markets, we believe we are positioned to deliver a stronger second half,” said Chuck Treadway, President and Chief Executive Officer.

Treadway added, “We continue to make great progress on our CommScope NEXT initiatives. We are ramping capacity to fuel top-line growth, while our general manager model and re-segmenting are helping drive greater focus, accountability and operational efficiencies in our business. In addition, as part of our transformation, we are investing heavily in R&D and new product introductions for the future growth of the Company – with exciting new technology advancements and strategic partnerships such as our DOCSIS® 4.0 RMD Node Platform selection with Liberty Global and Microsoft for our wireless networking products, and developments in our ONECELL®, NOVUX®, PROPEL™, XGS-PON and MOSAIC™ product lines. As our CommScope NEXT initiatives begin to drive results and pricing improvements work through our backlog, we expect to see improved adjusted EBITDA and cash flow.”

“With the continued progress we are making through CommScope NEXT, we are re-affirming our commitment to full year 2022 Core adjusted EBITDA between $1.15 - $1.25 billion, as well as our year-end net leverage target of 6.8x – 7.2x,” said Kyle Lorentzen, Chief Financial Officer. “As we drive our refocused investments in technology innovation, capacity expansion and operational efficiency throughout our portfolio, we believe CommScope is well positioned to deliver on our targets and create significant incremental shareholder value.”

CommScope NEXT

In 2021, CommScope announced a transformation initiative called CommScope NEXT designed to drive shareholder value through three pillars: profitable growth, operational efficiency and portfolio optimization. As a step toward optimizing its portfolio through CommScope NEXT, as of January 1, 2022, the Company reorganized its internal management and reporting structure to align its