MINNEAPOLIS—ADC Telecommunications Inc. said it expects its sales from continuing operations for 2006 to come in lower than it previously predicted.
Sales are expected to be between $1.28 billion and $1.3 billion. Earlier, the company predicted sales of between $1.35 billion and 1.39 billion. Sales for the third quarter are expected to be between $330 million and $335 million.
The company also reduced its earnings-per-share forecast to 15 cents from 18 cents for the third quarter and between 49 cents and 57 cents for fiscal 2006. Previous guidance called for EPS of between 65 cents and 80 cents for the year.
The company said the decreased outlook reflects lower sales of copper and fiber connectivity products resulting from customer consolidation and higher inventory levels.
The company is scheduled to announce its third-quarter results August 29.
ADC’s stock was hovering at around $12.87 per share after the news.
