ADC TELECOMMUNICATIONS, INC., ANNOUNCES PRELIMINARY 1991 REVENUES AND ORDERS
ADC TELECOMMUNICATIONS, INC., ANNOUNCES
PRELIMINARY 1991 REVENUES AND ORDERS
MINNEAPOLIS, Nov. 6 /PRNewswire/ -- ADC Telecommunications, Inc. (NASDAQ: ADCT), announced today that revenues for the quarter and year ended Oct. 31, 1991, are estimated to be $74.8 million and $293.8 million, respectively. These estimates represent 4 percent and 13 percent increases, respectively, over the $71.8 million and $259.8 million of revenues recorded in the quarter and year ended Oct. 31, 1990.
The company also announced estimated orders of $72.7 million for the quarter ended Oct. 31, 1991, representing a 4 percent decrease from the $76.0 million recorded in the fourth quarter of 1990. Estimated orders for the year ended Oct. 31, 1991, of $285.0 million are 7 percent higher than 1990 orders of $265.3 million.
With the exception of its internetworking products business, the company's results were lower than levels achieved in the fourth quarter of 1990 and the first half of 1991, primarily due to recessionary influences in the telecommunications industry that noticeably impacted ADC's business in the third quarter of 1991. The company entered the internetworking market segment at the beginning of its third quarter with the May 6, 1991, acquisition of Fibermux Corporation. Revenues and orders of internetworking products into the private market, which are not included in 1990 results, remain on plan.
The company expects to report earnings for the quarter and year ended Oct. 31, 1991, below the comparable periods of 1990 due to operating expense levels established at higher revenue levels and interest and goodwill costs associated with the Fibermux acquisition. The company continues to monitor operating expense levels, adjusting as appropriate. Final revenues, orders and earnings for 1991 will be announced in mid-December.
ADC Telecommunication, Inc., designs, manufactures and markets a wide variety of cable management, transmission and networking products used by telephone companies, broadcast networks and large private telecommunications networks.
NOTE: All 1991 amounts are estimated as of Nov. 6, 1991.
/CONTACT: Aimee Gallogly of ADC Telecommunications, 612-946-3338/
(ADCT) CO: ADC Telecommunications, Inc. ST: Minnesota IN: TLS SU: ERP JS -- MN004 -- 1686 11/06/91 12:04 EST