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FINAL FIRST QUARTER 1993 RESULTS ANNOUNCED BY ADC TELECOMMUNICATIONS

 MINNEAPOLIS, Feb. 22 /PRNewswire/ -- Final results for its first quarter ended Jan. 31, 1993 were announced today by ADC Telecommunications, Inc. (NASDAQ: ADCT). The 1993 three-month results, compared to results for the three months ended Jan. 31, 1992, are as follows:
 Quarter Ended Percent increase/
 1/31/93 1/31/92 decrease
 Orders $78,363,000 $65,803,000 19.1
 Net sales $78,648,000 $64,754,000 21.5
 Net income (loss) $5,260,000 $(1,276,000) (a)
 Earnings (loss) per share $.39 $(.09) (a)
 (a) Not meaningful
 "Although our revenue levels increased substantially between quarters, our net income reflects higher operating expenses attributable to our long-term product development programs," stated William J. Cadogan, president and chief executive officer. "We continue to see progress in these programs. We have just received a Letter of Intent for our most significant new product, the Homeworx(TM) Fiber In The Loop system. We have been selected by the Orange County Business Unit of Pacific Bell to provide equipment for its first Fiber To The Home Passive Optical Network (PON) architecture project that will begin in September, pending successful negotiations with Pacific Bell," added Cadogan.
 ADC Telecommunications, Inc. designs, manufactures and markets a wide variety of transmission, networking and cable management products used by telephone companies, broadcast and cable TV networks and large private telecommunications networks.
 Net sales for the quarters ended Jan. 31, 1993 and 1992 classified by product group, detailed statements of income for the quarters ended Jan. 31, 1993 and 1992 and balance sheets as of Jan. 31, 1993 and Oct. 31, 1992 follow.
 NET SALES BY PRODUCT GROUP
 (Dollars in thousands)
 Quarters Ended Jan. 31
 1993 1992
 Product Group Net Sales Percentage Net Sales Percentage
 Transmission $14,110 18.0 $10,503 16.2
 Networking 19,693 25.0 17,924 27.7
 Cable management 44,845 57.0 36,327 56.1
 Total $78,648 100.0 $64,754 100.0
 Net sales of fiber optic products represented 33.0 percent and 26.7 percent of total net sales for the quarters ended Jan. 31, 1993 and 1992, respectively.
 ADC TELECOMMUNICATIONS, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 (In thousands, except per share statistics)
 Quarter Ended
 1/31/93 1/31/92
 Net sales $78,648 $64,754
 Cost of products sold 38,510 33,928
 Gross profit 40,138 30,826
 Gross profit percentage 51.0 47.6
 Expenses:
 Selling 15,850 14,442
 Development and product engineering 9,537 8,213
 General and administrative 5,578 5,378
 Personnel reduction -- 3,800
 Total expenses 30,965 31,833
 Operating income (loss) 9,173 (1,007)
 Other income (expense), net:
 Interest 21 (393)
 Other (844) (692)
 Income (loss) before income taxes 8,350 (2,092)
 Provision (benefit) for income taxes 3,090 (816)
 Net income (loss) $5,260 $(1,276)
 Average common shares outstanding 13,662 13,478
 Earnings (loss) per share $.39 $(.09)
 Orders $78,363 $65,803
 CONSOLIDATED BALANCE SHEETS
 (Unaudited)
 (In thousands)
 ASSETS 1/31/93 10/31/92
 Current assets:
 Cash and cash equivalents $20,878 $20,484
 Accounts receivable 45,834 47,414
 Inventories 39,295 39,063
 Prepaid income taxes and other 8,600 8,394
 Total current assets 114,607 115,355
 Property and equipment, net 57,347 57,945
 Other assets, principally goodwill 66,529 67,462
 -- $238,483 $240,762
 LIABILITIES AND STOCKHOLDERS' INVESTMENT 1/31/93 10/31/92
 Current liabilities:
 Current maturities of long-term debt $310 $324
 Accounts payable 9,440 12,445
 Accrued liabilities 28,464 27,302
 Total current liabilities 38,214 40,071
 Deferred income taxes 4,276 4,393
 Long-term debt, less current maturities above 5,110 14,110
 Total liabilities 47,600 58,574
 Stockholders' investment (13,729 and
 13,610 shares outstanding, respectively) 190,883 182,188
 -- $238,483 $240,762
 -0- 2/22/93
 /CONTACT: Aimee Gallogly of ADC Telecommunications, 612-946-3338/
 (ADCT)


CO: ADC Telecommunications, Inc. ST: Minnesota IN: TLS SU: ERN

KH -- MN020 -- 9147 02/22/93 18:54 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Date:Feb 22, 1993
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