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FINAL THIRD QUARTER 1992 RESULTS ANNOUNCED BY ADC TELECOMMUNICATIONS

FINAL THIRD QUARTER 1992 RESULTS ANNOUNCED BY ADC TELECOMMUNICATIONS
 MINNEAPOLIS, Aug. 25 /PRNewswire/ -- Final results for its third fiscal quarter ended July 31, 1992, were announced today by ADC Telecommunications, Inc. (NASDAQ: ADCT). The 1992 three-month and nine- month (YTD) results, compared to the three-month and nine-month periods ended July 31, 1991, are as follows (dollars in thousands, except EPS):
 Percent
 Quarters Ended Nine Months Ended Increase
 7/31/92 7/31/91 7/31/92 7/31/91 (Decrease)
 Qtr. YTD
 Orders $81,658 $75,562 $229,722 $212,311 8.1 8.2
 Net sales 83,847 73,769 227,430 218,987 13.7 3.9
 Net income $7,601 $4,260 $12,568 $17,446 78.4 (28.0)
 EPS $.56 $.32 $.93 $1.31 75.0 (29.0)
 "We are pleased to report increased quarterly revenues from all ADC operating divisions despite the weakness in the overall economy," stated William J. Cadogan, president and chief executive officer. "We continue to invest aggressively in new product development programs throughout the company. I believe these efforts will be rewarded as the economy improves over the next year," added Cadogan.
 ADC Telecommunications, Inc., designs, manufactures and markets a wide variety of transmission, networking and cable management products used by telephone companies, broadcast networks and large private telecommunications networks.
 Net sales for the quarters and nine-month periods ended July 31, 1992 and 1991 classified by product group, detailed statements of income for the quarters and nine-month periods ended July 31, 1992 and 1991 and balance sheets as of July 31, 1992, and Oct. 31, 1991, follow.
 ADC TELECOMMUNICATIONS, INC.
 NET SALES BY PRODUCT GROUP
 (Dollars in thousands)
 Quarters Ended
 7/31/92 7/31/91
 Product Group Net sales Pct. Net sales Pct.
 Cable management $45,866 54.7 $44,359 60.1
 Transmission 15,946 19.0 11,921 16.2
 Networking 22,035 26.3 17,489 23.7
 Total $83,847 100.0 $73,769 100.0
 Nine Months Ended
 7/31/92 7/31/91
 Product Group Net sales Pct. Net sales Pct.
 Cable management $124,120 54.6 $147,276 67.2
 Transmission 40,430 17.8 38,239 17.5
 Networking 62,880 27.6 33,472 15.3
 Total $227,430 100.0 $218,987 100.0
 The year-to-date decrease in net sales of cable management products primarily reflects lower sales in the public telephone company (telco) market.
 The increases in net sales of networking products primarily reflect the May 1991 acquisition of Fibermux Corporation. Due to the timing of the acquisition, Fibermux product revenues were not included in net sales for the first two quarters of 1991.
 Net sales of fiber optic products represented 30.7 percent and 24.0 percent of total net sales for the quarters ended July 31, 1992 and 1991, respectively. For the nine months ended July 31, 1992 and 1991, net sales of fiber optic products represented 28.4 percent and 19.4 percent of total net sales, respectively.
 ADC TELECOMMUNICATIONS, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
 (In thousands, except per-share statistics)
 Quarters Ended Nine Months Ended
 7/31/92 7/31/91 7/31/92 7/31/91
 Net sales $83,847 $73,769 $227,430 $218,987
 Cost of products sold 40,878 36,862 113,110 111,037
 Gross profit 42,969 36,907 114,320 107,950
 Gross profit percentage 51.2 50.0 50.3 49.3
 Expenses:
 Selling 15,180 14,570 44,845 38,333
 Development & product engineering 9,171 8,512 26,108 23,766
 General & administrative 5,265 5,616 15,984 15,955
 Personnel reduction -- -- 3,800 --
 Total expenses 29,616 28,698 90,737 78,054
 Operating income 13,353 8,209 23,583 29,896
 Other income (expense), net:
 Interest (121) (475) (883) 311
 Other (771) (751) (2,096) (1,247)
 Income before income taxes 12,461 6,983 20,604 28,960
 Provision for income taxes 4,860 2,723 8,036 11,514
 Net income $7,601 $4,260 $12,568 $17,446
 Average common shares outstanding 13,570 13,404 13,526 13,349
 Earnings per share $.56 $.32 $.93 $1.31
 Orders $81,658 $75,562 $229,722 $212,311
 ADC TELECOMMUNICATIONS, INC. AND SUBSIDIARIES
 CONSOLIDATED BALANCE SHEETS (Unaudited)
 (In thousands)
 ASSETS
 7/31/92 10/31/91
 Current assets:
 Cash and cash equivalents $20,732 $30,109
 Accounts receivable 43,925 41,373
 Inventories 40,752 40,427
 Prepaid income taxes and other 8,764 7,621
 Total current assets 114,173 119,530
 Property and equipment, net 57,594 57,808
 Other assets, principally goodwill 66,799 69,831
 -- $238,566 $247,169
 LIABILITIES AND STOCKHOLDERS' INVESTMENT
 7/31/92 10/31/91
 Current liabilities:
 Current maturities of long-term debt $1,067 $1,412
 Accounts payable 10,185 10,167
 Accrued liabilities 29,063 28,946
 Total current liabilities 40,315 40,525
 Deferred income taxes 4,380 4,636
 Long-term debt, less current
 maturities above 21,262 43,634
 Total liabilities 65,957 88,795
 Stockholders' investment
 (13,581 and 13,429 shares outstanding,
 respectively) 172,609 158,374
 -- $238,566 $247,169
 -0- 8/25/92
 /CONTACT: Aimee Gallogly of ADC Telecommunications, 612-946-3338/
 (ADCT) CO: ADC Telecommunications, Inc. ST: Minnesota IN: TLS SU: ERN


KH -- MN016 -- 3137 08/25/92 15:59 EDT
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