MINNEAPOLIS -- ADC (Nasdaq: ADCT - news, www.adc.com - news), a leading global supplier of fiber optics, network equipment, software and integration services for broadband, multiservice networks, today announced third quarter sales of $548 million for the quarter ended July 31, 2001, a decrease of 39% compared to $892 million in the comparable quarter of 2000 and a decrease of 16% from second quarter 2001 sales of $652 million. In the quarter, Broadband Infrastructure and Access (BIA) sales of $405 million declined 47% from the third quarter of 2000 partially offset by 16% growth in Integrated Solutions (IS) sales of $144 million. International sales decreased 18% to $156 million or 28% of total sales in this year's third quarter compared to 21% of total sales in the third quarter of 2000. North America and Europe remained ADC's largest sales regions in the quarter. Pro forma operating loss was $51 million in the third quarter of 2001 compared to pro forma operating income of $179 million in the prior-year third quarter, while pro forma net loss in this year's third quarter was $40 million ($0.05 loss per diluted share) compared to pro forma net income of $121 million ($0.16 earnings per diluted share) in the third quarter of 2000. On a financial reporting basis, which includes the impact of all expenses, charges and credits, net loss was $58 million ($0.07 loss per diluted share) in the third quarter of 2001 compared to net income of $10 million ($0.01 earnings per diluted share) in the third quarter of 2000."We are encouraged by the slowing decline in quarterly revenue and the enormous progress we have made to-date in our cost reduction efforts to improve profitability and cash flow going forward," said Richard R. Roscitt, chairman and chief executive officer of ADC. "When revenues begin to settle after the downturn, we believe these aggressive cost reduction actions combined with our sharp strategic focus on opportunities where ADC has sustainable advantages and attractive growth potential will make ADC a stronger competitor positioned to accelerate its earnings when telecommunications capital spending rebounds." http://www.corporate-ir.net/ireye/content_alone.zhtml?ticker=ADCT&script=410&layout=7&item_id=202445