ADC Reports Q2 Earnings

MINNEAPOLIS -- ADC (Nasdaq:ADCT, www.adc.com), a leading global supplier of fiber optics, network equipment, software and integration services for broadband, multiservice networks, today announced second quarter sales of $652 million for the quarter ended April 30, 2001, in-line with its guidance announced on March 28 and a decrease of 15% compared to $771 million in the comparable quarter of 2000. In the quarter, Broadband Infrastructure and Access (BIA) sales of $497 million declined 24% from the second quarter of 2000 partially offset by 39% growth in Integrated Solutions (IS) sales of $155 million. International sales increased 3% to $165 million or 25% of total sales in this year's second quarter compared to 21% of total sales in the second quarter of 2000. North America and Europe remained ADC's largest sales regions in the quarter. Consistent with ADC's March 28 guidance, pro forma operating loss was $164 million in the second quarter of 2001 compared to pro forma operating income of $118 million in the prior-year second quarter, while pro forma net loss in this year's second quarter was $115 million ($0.15 loss per diluted share) compared to pro forma net income of $72 million ($0.10 earnings per diluted share) in the second quarter of 2000. On a financial reporting basis, which includes the impact of all expenses, charges and credits, net loss was $1.0 billion ($1.33 loss per diluted share) in the second quarter of 2001 compared to net income of $718 million ($0.96 earnings per diluted share) in the second quarter of 2000. http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=adct&script=410&layout=7&item_id=178369