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ADC Rallies on Big Beat
ADC (ADCT Quote) beat fiscal second quarter targets but trimmed full-year sales guidance.
The networking equipment maker posted adjusted earnings, excluding stock sale proceeds and restructuring charges, of 35 cents a share. That compares with a 30-cent pro forma profit in the year ago quarter.
Sales for the quarter ended last month were $349 million, compared with $358 million a year ago. Analysts were looking for an adjusted profit of 24 cents on $333 million in revenue, according to Reuters Research. ...
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