ADC Telecom Warns

ADC (ADCT Quote) shares dipped late Tuesday on soft guidance and concerns about an inventory buildup.

The Minneapolis-based networking gearmaker posted an adjusted profit of $37 million, or 28 cents a share, for the fiscal fourth quarter ended Oct. 31. Those numbers compare with pro forma earnings of 18 cents a share a year ago. Analysts were looking for an adjusted profit of 18 cents, according to Thomson First Call.

Total sales for the quarter were $307.4 million, up from $294 million in the same period a year ago. The analyst consensus called for sales of $303 million.

"In the face of challenging market conditions, we achieved year-over-year sales growth of 5% in the fourth fiscal quarter of 2006," CEO Bob Switz said in a press release. ...