Vistance Networks (NasdaqGS:COMM) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Company ParticipantsAmit Daryanani - Senior MdChuck Treadway - President and CEOJenny Thompson - VP, Investor RelationsKyle Lorentzen - EVP and CFOConference Call ParticipantsBrendan Lynch - VP and Senior Research AnalystSamik Chatterjee - Equity Research AnalystTim Savageaux - Senior Research AnalystOperatorGood day, and thank you for standing by. Welcome to the Vistance Networks fourth quarter and full year 2025 earnings ...

Vistance Networks (NasdaqGS:COMM) Q4 2025 Earnings call February 26, 2026 08:30 AM ET Speaker5Good day, and thank you for standing by. Welcome to the Vistance Networks fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listening mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand i ...

Fourth Quarter and Full Year 2025 Results February 26, 2026 Important information Caution Regarding Forward Looking Statements These forward-looking statements are subject to various risks and uncertainties, many of which are outside our control, including, without limitation, our dependence on customers' capital spending on data, communication and entertainment equipment, which could be negatively impacted by a regional or global economic downturn, among other factors; the potential impact of higher than n ...

Exhibit 99.1 Vistance Networks Reports Fourth Quarter and Full Year 2025 Results Fourth Quarter Highlights Full Year Highlights * Core financial measures reflect the results of the RUCKUS and Aurora Networks (Aurora) segments, in the aggregate, and exclude general corporate costs that were previously allocated to the Connectivity and Cable Solutions (CCS) segment, Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit, since these costs were not directly attributable to ...

For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36146 Vistance Networks, Inc. (Exact name of registrant as specified in its charter) Delaware 27-4332098 (State or other jurisdictio ...

Core Viewpoint - Amphenol Corporation is highlighted as a significant player in the AI stock market, particularly following its acquisition of CommScope's Connectivity and Cable Solutions business, which is expected to enhance its market position and financial performance [1][2]. Group 1: Acquisition Details - Amphenol has completed the acquisition of CommScope's Connectivity and Cable Solutions (CCS) business, which adds substantial fiber optic interconnect capabilities for IT datacom and communications networks, as well as industrial interconnect products for building infrastructure [2]. - This acquisition, valued at $10.5 billion, is Amphenol's largest to date and is projected to increase sales by approximately 17% [3]. Group 2: Financial Projections - Truist Securities has raised its earnings per share (EPS) estimate for Amphenol to $4.71 for 2027, up from $4.33, reflecting a 4% EPS accretion in 2026 and an anticipated long-term accretion of about 16% within two years [4]. - Analysts note that Amphenol has a strong track record with acquisitions, which typically lead to increased sales, improved operating profit margins, and enhanced return on invested capital [3].

Core Insights - CommScope Holding Company, Inc. has completed the divestiture of its Connectivity and Cable Solutions segment to Amphenol Corporation for $10.5 billion, marking a significant shift in its corporate strategy [1][8] - The company will be rebranded as Vistance Networks, with its Access Network Solutions business now known as Aurora Networks, reflecting a streamlined portfolio [2][8] - The divestiture is part of a broader portfolio optimization strategy, allowing the company to focus on its major growth engines, particularly in WiFi and broadband network products [4][8] Financial Impact - The transaction will enable the company to pay off all outstanding debt and distribute excess cash to shareholders, with a minimum expected dividend of $10 per share within 60 to 90 days post-completion [3][8] - CommScope shares have increased by 270.8% over the past year, outperforming the industry growth of 140.3% [7] Valuation and Estimates - CommScope is currently trading at a forward price-to-sales ratio of 0.7, which is below the industry average, indicating potential undervaluation [9] - Earnings estimates for 2025 have seen an increase over the past 60 days, while estimates for 2026 have declined [10]

Clearfield Conference Call Summary Company Overview - **Company**: Clearfield - **Industry**: Fiber connectivity and broadband services - **Key Executives**: CEO Cheri Beranek, CFO Dan Herzog Key Points Industry Dynamics - Clearfield operates in the fiber connectivity sector, providing essential equipment for broadband service providers to connect homes and businesses across the U.S. [3][5] - The company has seen growth in both community broadband and larger regional companies, indicating a shift in focus from smaller to larger service providers [3][5] - Competitors like Corning and CommScope are primarily focused on data centers and AI, leaving opportunities for Clearfield in underserved markets [3][5] Financial Performance - Clearfield achieved significant growth during COVID-19, scaling to $250 million in revenue, with a 50% increase in 2021 and 90% in 2022 [13][14] - The company reported a gross margin improvement from 20% to 33% due to better inventory utilization and increased sales volume [32][82] - Community broadband revenue was flat year-over-year, attributed to delays in the BEAD program, which is a $42 billion initiative for broadband deployment [15][16] BEAD Program Impact - The BEAD program has caused uncertainty in community broadband, leading to a cautious approach from customers awaiting funding [15][16] - Clearfield does not currently include BEAD funding in its 2026 forecast but anticipates potential business flow starting in 2026 [21][22] - The company is optimistic about future BEAD funding and is seeing increased quoting activity from customers [17][18] Competitive Landscape - Clearfield's competitors, particularly CommScope, have faced challenges due to unsustainable business practices, which may provide Clearfield with a competitive edge [62][65] - The divestiture of Nestor, a previous supplier, allows Clearfield to focus on its core business and improve profitability by eliminating low-margin operations [71][72] Strategic Initiatives - Clearfield is investing in R&D to expand into adjacent markets, including edge computing and IoT, as part of its growth strategy [73] - The company emphasizes a high-touch sales model, which has fostered long-term customer relationships and loyalty [12][14] - Clearfield is also initiating programs to train individuals from tribal communities to address labor shortages in broadband deployment [80] Future Outlook - Clearfield aims to leverage its strong balance sheet, with no debt and approximately $160 million in cash, for strategic growth opportunities [76][77] - The company is preparing for new product launches that will cater to the growing demand for edge computing and AI applications [49][56] - Clearfield's focus on underserved markets positions it well for future growth as demand for fiber connectivity increases [76] Additional Considerations - The company maintains a diverse customer base, with no single customer accounting for more than 10% of its business, reducing risk [37] - Clearfield's product offerings are designed to be flexible, allowing for scalability and adaptability to customer needs [45][46] This summary encapsulates the key insights from Clearfield's conference call, highlighting the company's strategic positioning, financial performance, and future growth opportunities in the fiber connectivity industry.

Summary of Amphenol Corp (APH.N) Conference Call Company Overview - **Company**: Amphenol Corp (APH.N) - **Acquisition**: Completed acquisition of CommScope's CCS business earlier than expected, expanding capabilities in IT Datacom and Communications segments, and industrial interconnect products for building infrastructure connectivity [1] Key Financial Insights - **Expected Sales**: The CCS business is projected to generate approximately $4.1 billion in FY26 sales [1] - **EPS Impact**: The acquisition is expected to be accretive by about $0.15 to FY26E EPS [1] - **Revenue Upside**: The deal's early closure will contribute upwards of $1.0 billion in additional revenue for F1Q26, with an EPS upside of $0.03-0.04 [1] Market Position and Growth Potential - **Strategic Acquisitions**: Amphenol continues to pursue strategic acquisitions to enhance business growth and market exposure [4] - **AI/Data Center Leadership**: The company is positioned to benefit from revenue and margin expansion due to its leadership in AI/data center interconnects amid growing AI capital expenditures [4] Valuation Metrics - **Target Price**: The target price is set at $175, based on a 35x PE applied to FY27E EPS, reflecting a premium to its median 5-year PE multiple of 31x [5] - **Peer Comparison**: The peer group trades at a median PE NTM multiple of approximately 24x, with Amphenol consistently trading higher due to its strong margin structure and business model [6] Risks and Challenges - **Economic Slowdown**: Risks include a potential global economic slowdown more severe than expected [7] - **Tech Spending**: A slowdown in tech spending beyond current expectations could impact performance [7] - **Raw Material Prices**: Increases in raw material prices may pressure earnings estimates [7] - **Acquisition Risks**: The continuation of acquisitions is crucial for growth; failure to execute could jeopardize positive outlooks [7] - **Exchange Rate Fluctuations**: Given its global footprint, exchange rate fluctuations could negatively affect sales and margins [7] Investment Outlook - **Short-Term View**: A short-term upside view is established, with an expected total return of 25.6%, including a 24.9% price return and a 0.7% dividend yield [2][4] - **Market Cap**: The current market capitalization is approximately $171.564 billion [2] Additional Considerations - **Analyst Certification**: Analysts involved in the report have certified the accuracy of their views regarding Amphenol [3] - **Investment Banking Relationships**: Citigroup has acted as manager or co-manager of securities offerings for Amphenol, indicating potential conflicts of interest [12][13] This summary encapsulates the critical insights from the conference call regarding Amphenol Corp, highlighting its strategic acquisition, financial projections, market positioning, risks, and investment outlook.

Core Insights - Amphenol has significantly increased its size and market power following the completion of its acquisition of CommScope's Connectivity and Cable Solutions unit, resulting in a nearly 4% rise in its stock price [1][2] Group 1: Acquisition Details - Amphenol completed the acquisition of CommScope's CSS unit for $10.5 billion in an all-cash transaction, with the deal first announced in August of the previous year [2] - The acquisition is expected to generate approximately $4.1 billion in sales for Amphenol in 2026, which represents about 27% of the company's projected revenue for 2025 [5][6] Group 2: Strategic Impact - The acquisition enhances Amphenol's interconnect product capabilities in the rapidly growing IT datacom market, particularly in fiber optic interconnect products for AI and data center applications [3] - It diversifies Amphenol's portfolio of fiber optic and interconnect product solutions across communications networks and industrial markets [3] Group 3: Financial Implications - The acquisition is projected to be $0.15 accretive to Amphenol's full-year earnings per share, excluding acquisition-related expenses [5] - Cost-saving efficiencies from the acquisition are expected to improve profitability and positively impact the company's bottom line [6]