DALLAS, Texas - BeaconEquity.com announces the publication of ‘ADC Telecommunications Profit Drops 9%; Revenue Up; Lowers Earnings Guidance’
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ADC Telecommunications Profit Drops 9%; Revenue Up; Lowers Earnings Guidance
”ADC Telecommunications Inc. (Nasdaq: ADCT), the Eden Prairie, Minnesota-based provider of broadband communications network infrastructure products, reported a 9% drop in earnings in the third quarter from the same period last year, despite a 13% increase in revenues. The company also lowered guidance to its 2008 outlook for earnings from continuing operations…
“The company said third-quarter net income fell to $15.1 million, or 13 cents per diluted share, from $16.6 million, or 14 cents per diluted share, year-over-year…
“The average of nine analysts polled by First Call/Thomson Financial had forecast third-quarter earnings of 26 cents per diluted share…
“Revenues rose to $390.2 million in the third quarter from $346.1 million reported in the same period last year, beating analysts’ estimates of $388.55 million…”
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