ADC's board of directors has approved a fiscal year-end change from Oct. 31 to Sept. 30

July 25, 2008

1 Min Read

MINNEAPOLIS -- ADC (NASDAQ: ADCT) (www.adc.com) today announced that the company’s board of directors has approved a fiscal year-end change from Oct. 31 to Sept. 30. The change is scheduled for the company’s 2009 fiscal year beginning Nov. 1, 2008 and ending Sept. 30, 2009, and is being implemented to better align ADC’s financial reporting periods with those of the company’s telecommunications industry peers.

Financial results for ADC’s 2008 fiscal year will be reported as planned on Form 10-K after the company reports earnings for the fourth quarter ending Oct. 31, 2008.

“Our decision to change ADC’s fiscal year-end is driven primarily by our desire to report the company’s earnings during the same periods as other companies in the telecommunications industry,” said James G. Mathews, ADC’s Chief Financial Officer. “The move to a September 30 year-end is designed to make it easier for the investment community to compare ADC’s operational and financial results to those of our industry peers.”

ADC (Nasdaq: ADCT)

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