ADC Wins Stevie Award in Best Business Turnaround Category; Company Awarded Top Honor in 4th Annual 2006 American Business Awards.MINNEAPOLIS -- ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADCT ADCT Adaptive Discrete Cosine Transform )(www.adc.com) today announced it won a Stevie(R) Award in the Best Business Turnaround category in the 2006 American Business Awards(SM). Winners were announced during the annual gala on Monday, June 12, 2006 at the Marriott Marquis Hotel in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . More than 1,500 companies submitted entries for consideration in more than 40 Stevie Awards categories. As a winner of the Best Business Turnaround award, ADC is recognized for showing significant operational and financial improvement over the prior year. ADC has advanced several initiatives to transform its cost structure and position the company for long-term growth. ADC is continuing its efforts to improve its long-term operating margins and recently reported a 17 percent increase in net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for the fiscal first-half ended April 28, 2006, over the prior-year period. "We're honored that ADC won this award which recognizes the successful execution of our strategies to grow revenue and improve profitability," said Robert E. Switz, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at ADC. "Our turnaround is due to the hard work of our dedicated employees and the support of our loyal customers. We are excited about the long-term prospects for ADC." Stevie Awards founder, Michael Gallagher, said, "Many Americans accomplish extraordinary things in the workplace everyday, but rarely get the attention they deserve. We hope that the Stevies inspire people at all levels of American business to recognize and honor outstanding work." Members of the awards' board of judges, advisors and their staffs selected Stevie winners from among the finalists. Finalists were chosen by business professionals nationwide during preliminary judging earlier this year. Details about The American Business Awards and the list of finalists and Stevie Award winners are available at www.stevieawards.com/aba. About The Stevie Awards Hailed as "the business world's own Oscars" by the New York Post The New York Post is the 13th-oldest newspaper published in the United States and the oldest to have been published continually as a daily.[3] Since 1976, it has been owned by Australian-born billionaire Rupert Murdoch's News Corporation and is one of the 10 (April 27, 2005), Stevie Awards are conferred in three programs: The American Business Awards, The International Business Awards, and The Stevie Awards for Women Entrepreneurs. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com. About ADC ADC provides the connections for wireline, wireless, cable, broadcast, and enterprise networks around the world. ADC's innovative network infrastructure equipment and professional services enable high-speed Internet, data, video, and voice services to residential, business and mobile subscribers. ADC (NASDAQ:ADCT) has sales into more than 140 countries. Learn more about ADC at www.adc.com. |
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