Andrew Corp., citing orders growth in Asia Pacific and Latin America, reported fiscal first-quarter profits that beat analysts’ expectations by 4 cents a share.
The Orland Park-based supplier of communications equipment and services reported net income rose 16 percent, to $28.3 million, or 32 cents a share, from $24.3 million, or 27 cents a share, a year earlier.
Analysts had been expecting Andrew to report earnings of 28 cents a share.
Andrew said orders in the quarter grew 7 percent, with particular strength stemming from wireless infrastructure and common carrier markets in China, Hong Kong and Brazil.
Sales rose 2 percent, to $231.1 million from $225.7 million. %%
EARNINGS DIGEST
In millions except for per-share data
1st Qtr. Dec. 31 1997 1996
Revenues 231.14 225.71
Extraordinary loss a1.23
Net income (loss) 28.33 24.34
Per share (basic) .32 .27
a–Loss from operations of network business, net of tax, discontinued in 1997 %%
