ADC Telecommunications Inc. today announced preliminary expectations for its fiscal 2006 third quarter ending July ...
July 19, 2006
ADC Telecommunications Inc. today announced preliminary expectations for its fiscal 2006 third quarter ending July 28 and updated its financial outlook for its fiscal 2006 year ending October 31.
The company currently expects sales from continuing operations in the third quarter of 2006 to be in the range of US$330-US$335 million and for fiscal 2006 year to be in the range of US$1.280-US$1.300 billion.
“The updated financial outlook primarily reflects lower sales of copper and fiber connectivity products resulting from what ADC believes are short-term impacts of both customer consolidation activity affecting current spending rates and customers’ current inventory levels being higher than current deployment rates,” the company said.
Although the outlook for the balance of the fiscal year has been reduced, ADC said it still expects to have year-over-year growth for fiscal year 2006.