MINNEAPOLIS-Network infrastructure company ADC Telecommunications Inc. reported its fourth-quarter results of $193 million in net sales and net earnings of $9.3 million. The company predicted it will earn between $170 and $180 million in its next quarter.
The news helped bump up ADC’s stock to about $2.85 per share in trading.
“We are pleased to finish fiscal 2003 with fourth quarter sales above our expectations and positive fourth quarter results for both EPS and total cash provided by operating activities,” said Robert Switz, the company’s president and chief executive officer. “As we enter fiscal 2004, we are focused on building long-term value by meeting and exceeding the needs and expectations of our global customers and aggressively executing our sales and profitability growth strategy.”
