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ADC updates financial outlook for fiscal year 2008

ADC Telecommunications Inc. today announced an update to its financial outlook for its fiscal year 2008 ending Oct....


July 22, 2008  


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ADC Telecommunications Inc. today announced an update to its financial outlook for its fiscal year 2008 ending Oct. 31.

The updated estimates are subject to the completion of ADC’s actual financial results for the fiscal 2008 third quarter and year.

ADC is scheduled to announce financial results on Sept. 4 for its third quarter ending Aug. 1.

The company expects sales from continuing operations for fiscal 2008 to be in the range of US$1.500-$1.520 billion.

Previous annual guidance provided on June 4 was that ADC’s fiscal 2008 sales would be in the range of US$1.520-$1.540 billion.

The company now expects to have year-over-year sales growth for fiscal year 2008 of 13%-15%.

“Compared to previous fiscal 2008 sales guidance, the updated financial outlook primarily reflects lower sales of copper and fiber connectivity products in the United States resulting mainly from customers’ recent budget reviews and ordering patterns, as well as the resulting effects on original equipment manufacturers’ demand for ADC products,” it said in a statement.