CommScope Q2 net sales down 16.6% YoY; GAAP net loss $100.4M; adjusted EPS $0.19

Vistance Networks, Inc.

2023-Q2 EPS reported -$0.61 revenue$3,919,900,000

Net sales $1.918B, down 16.6% YoY; GAAP net loss $100.4M vs. $61M loss a year ago; GAAP EPS loss $0.55.
Non-GAAP adjusted EBITDA $259.5M, down 13.4% YoY; adjusted diluted EPS $0.19, down 53.7% from $0.41.
Core net sales (excl. Home segment) $1.589B, down 15.3%; core adjusted EBITDA $262.5M, down 8.5%.
Cash flow from operations $136.8M; non-GAAP adjusted free cash flow $148.8M.
John R. Carlson reassigned from CCO to lead CCS Enterprise Business Unit, no longer executive officer.

item 2.02 item 5.02 item 9.01

Executive movements

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Role change

John R. Carlson

Senior Vice President and Chief Commercial Officer

VISN · Vistance Networks, Inc.

Effective: 2023-08-02
Filed: August 3, 2023, 7:59 PM ET

On August 2, 2023, the Board of Directors of the Company determined to reassign John R. Carlson from his duties as the Company’s Senior Vice President and Chief Commercial Officer to focus on the Connectivity and Cable Solutions (CCS) segment as the Senior Vice President, CCS Enterprise Business Unit & CCO.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.6

Vistance Networks, Inc. reported the second quarter of 2023 results: revenue Net sales of $1.918 billion, net income GAAP net loss of $100.4 million.

Period: the second quarter of 2023
Revenue: Net sales of $1.918 billion
Net income: GAAP net loss of $100.4 million
Result: reported results

Exact text from the filing

by specific reference in such filing. --- EX-99.1 (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

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John R. Carlson changed role as Senior Vice President and Chief Commercial Officer at Vistance Networks, Inc..

Action: reassigned
Role: Senior Vice President and Chief Commercial Officer

Exact text from the filing

On August 2, 2023, the Board of Directors of the Company determined to reassign John R. Carlson from his duties as the Company’s Senior Vice President and Chief Commercial Officer to focus on the Connectivity and Cable Solutions (CCS) segment as the Senior Vice President, CCS Enterprise Business Unit & CCO.

View on SEC.gov

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Vistance Networks, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-037553

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