kareem
21-08-2003, Thu 3:40 PM
In its third quarter, ADC posted a net loss of $15.1 million, or 2
cents a diluted share, compared with a loss in the year-ago quarter of $629.1 million, or 79 cents a diluted share.
Analysts were expecting a loss of 1 cent a share, before one-time items, on sales of $191.4 million, according to Reuters Research.
Switz said the company is now aiming to break even on a pro-forma basis, by posting quarterly sales of $180 million, instead of its previous target of $190 million. He said ADC will look at other ways to lower costs, including outsourcing some non-manufacturing operations, but dramatic job cuts are not expected.
((((on Wednesday posted a third-quarter net loss amid sluggish customer spending and issued a disappointing sales forecast for the current quarter )))
cents a diluted share, compared with a loss in the year-ago quarter of $629.1 million, or 79 cents a diluted share.
Analysts were expecting a loss of 1 cent a share, before one-time items, on sales of $191.4 million, according to Reuters Research.
Switz said the company is now aiming to break even on a pro-forma basis, by posting quarterly sales of $180 million, instead of its previous target of $190 million. He said ADC will look at other ways to lower costs, including outsourcing some non-manufacturing operations, but dramatic job cuts are not expected.
((((on Wednesday posted a third-quarter net loss amid sluggish customer spending and issued a disappointing sales forecast for the current quarter )))