CommScope Holding Company, Inc. (NASDAQ: COMM), a global leader in network connectivity solutions, reported results for the quarter and year ended December 31, 2020.
Net sales of $789.3 million, increased 17.3% from prior year driven by growth in both Network Cable & Connectivity and Network & Cloud.
Net sales in the fourth quarter of 2020 decreased 7.3% year over year to $2.13 billion. Net sales declined primarily due to year over year decreases in the Home Networks and Venue and Campus Networks segments.
Non-GAAP adjusted EBITDA increased 11.9% to $362.2 million in the fourth quarter of 2020 compared to the same period last year. Non-GAAP adjusted EBITDA improved to 17.0% of net sales in the fourth quarter of 2020 compared to 14.1% of net sales in the same prior year period.
The Company estimates that fourth-quarter 2020 non-GAAP adjusted EBITDA was negatively impacted by approximately $10 million related to COVID-19 incremental costs.
Broadband Networks
• Net sales of $789.3 million, increased 17.3% from prior year driven by growth in both Network Cable & Connectivity and Network & Cloud.
Home Networks
• Net sales of $571.0 million, down 30.7% from prior year driven by declines in Home Media Solutions, partially offset by growth in Broadband Connectivity Devices.
Outdoor Wireless Networks
• Net sales of $294.7 million, increased slightly by 1.1% from prior year driven by growth in Macro Tower Solutions, while partially offset by declines in Metro Cell Solutions.
Venue and Campus Networks
• Net sales of $476.8 million, down 6.6% from prior year primarily driven by declines in Indoor Copper Enterprise and a moderate decline in RUCKUS Networks. Results were partially offset by growth in Indoor Fiber Enterprise and DAS and Small Cell.
Net sales in 2020 increased 1.1% year over year to $8.44 billion primarily due to a year over year increase in the Broadband Networks segment. On a combined company basis, net sales decreased 13.5% year over year primarily due to decreases in the Home Networks, Outdoor Wireless Networks and Venue and Campus Networks segments.
Source: ir.commscope.com
