CommScope posted net sales of $469.6 million in its venue and campus networks business division in the first quarter of 2021, flat compared to the same quarter in 2020, the company said in its earnings statement.
The company noted that sales in this specific business segment remained flat year-on-year primarily driven by growth in Ruckus Networks offset by moderate declines in Indoor Copper Enterprise, Indoor Fiber Enterprise and DAS and Small Cell.
CommScope reported revenues of $2.07 billion in the first quarter of the year, up 1.9% year-on-year. Core net sales increased 10.5% year-on-year primarily due to higher net sales in the Broadband Networks segment.
The firm posted a net loss of $97.6 million in the period, compared to a net loss of $159.9 million in the year-ago quarter.
Revenues from the U.S. business amounted to $1.19 billion in Q1, down 2.3% year-on-year.
“These results are a testament to our team’s dedication to serving our customers and enhancing our core businesses. We are also encouraged by strengthening market conditions and the opportunities we see to capitalize on industry tailwinds ahead such as 5G and mobile network densification, indoor coverage and private networks, distributed access architectures and fiber-rich optical networks, as the economy and our industry continue to recover from the COVID-19 pandemic,” said Chuck Treadway, president and CEO.
“Looking ahead, we are committed to refocusing our commercial and technology footprint around a more tightly integrated portfolio following our recent announcement to spin off our Home Networks business. We continue to take action to position CommScope for success as we execute on our CommScope NEXT strategy to optimize the business portfolio, drive above-market growth, and control costs,” the executive added.
Alex Pease, executive vice president and CFO, said, “During the first quarter we adapted to changing market conditions and delivered solid increases in revenue and profitability. Following the planned spin-off of our Home Networks business, we will be better able to reinvest in our core strategic markets and technologies to capitalize on the growth opportunities in our Broadband, Outdoor Wireless and Venue and Campus segments. With our optimized business portfolio, we expect to continue to build on the momentum we have seen so far this year.”