MINNEAPOLIS-ADC said it expects its third fiscal quarter ending July 31, 2001, results to be lower than previously released guidance as a result of industrywide reductions in telecommunications capital spending.
The company now expects sales to be between $235 million and $245 million and expects to report a loss of 5 to 7 cents per share. In addition, ADC said that “in response to current conditions” it is lowering its breakeven point toward $250 million in quarterly sales, which the company hopes to reach by October 31.
“We remain steadfast in our belief that those companies, like ADC, that continue to gain market share, lower breakeven points and strengthen balance sheets in this difficult environment will prosper sooner in a recovery,” explained Rick Roscitt, chairman and chief executive officer of ADC.
