Revenue during the quarter grew 3.18 percent to $1,178.91 million from $1,142.54 million in the previous year period. Gross margin for the quarter expanded 663 basis points over the previous year period to 41.55 percent. Total expenses were 89.87 percent of quarterly revenues, down from 98.11 percent for the same period last year. This has led to an improvement of 824 basis points in operating margin to 10.13 percent.

Operating income for the quarter was $119.41 million, compared with $21.57 million in the previous year period.

However, the adjusted operating income for the quarter stood at $252.20 million compared to $196.40 million in the prior year period. At the same time, adjusted operating margin improved 420 basis points in the quarter to 21.39 percent from 17.19 percent in the last year period.

"We are very pleased to deliver another quarter of sales growth and outstanding financial results," said president and chief executive officer Eddie Edwards. "We are equally proud of our full-year 2016 performance. While integrating a major acquisition, we increased earnings significantly, more than doubled cash flow from operations and repaid nearly $700 million of debt."

For fiscal year 2017, CommScope Holding Company, Inc. expects revenue to be in the range of $5,000 million to $5,150 million. It expects operating income to be in the range of $730 million to $770 million. It expects adjusted operating income to be in the range of $1,110 million to $1,160 million. It projects diluted earnings per share to be in the range of $1.66 to $1.73. It projects diluted earnings per share to be in the range of $2.90 to $3 on adjusted basis for the same period. 

For the first-quarter, CommScope Holding Company, Inc. expects revenue to be in the range of $1,100 million to $1,150 million. It expects operating income to be in the range of $105 million to $120 million. It expects adjusted operating income to be in the range of $205 million to $225 million. It projects diluted earnings per share to be in the range of $0.18 to $0.22. It projects diluted earnings per share to be in the range of $0.49 to $0.54 on an adjusted basis for the same period.

The company has spent $54.59 million cash to meet investing activities during the year as against cash outgo of $3,050.61 million in the last year. It has incurred net capital expenditure of $64.23 million on net basis during the year, up 21 percent or $11.15 million from year ago.

The company has spent $674.37 million cash to carry out financing activities during the year as against cash inflow of $2,603.13 million in the last year period.

Cash and cash equivalents stood at $428.23 million as on Dec. 31, 2016, down 23.92 percent or $134.66 million from $562.88 million on Dec. 31, 2015.

Working capital declines
CommScope Holding Company, Inc. has witnessed a decline in the working capital over the last year. It stood at $1,135.95 million as at Dec. 31, 2016, down 13.91 percent or $183.60 million from $1,319.55 million on Dec. 31, 2015. Current ratio was at 2.32 as on Dec. 31, 2016, down from 2.93 on Dec. 31, 2015.

Debt comes down
CommScope Holding Company, Inc. has recorded a decline in total debt over the last one year. It stood at $4,562.01 million as on Dec. 31, 2016, down 13 percent or $681.64 million from $5,243.65 million on Dec. 31, 2015. Total debt was 63.88 percent of total assets as on Dec. 31, 2016, compared with 69.89 percent on Dec. 31, 2015. Debt to equity ratio was at 3.27 as on Dec. 31, 2016, down from 4.29 as on Dec. 31, 2015. Interest coverage ratio improved to 1.91 for the quarter from 0.28 for the same period last year.