ADC Telecom ( ADCT) hit a 52-week low after the company cut 2006 revenue guidance by 6%.The Minneapolis-based networking gearmaker says fiscal third-quarter sales will be about $332.5 million, well below the $368.7 million analysts were expecting for the quarter ending July 28. The company blamed the shortfall on industry consolidation and a drop in demand for network connection gear. ADC now expects fiscal 2006 sales to be $1.29 billion, below the $1.37 billion the company previously forecast. "We are not alone in the industry with the current softening of the outlook for the remainder of our fiscal year," CEO Bob Switz said in a press release Wednesday. "We still expect to grow our business year over year and remain confident that we can deliver long-term growth and profitability in our business." ADC shares fell $1.88, or 13%, to $12.48 in early trading Wednesday. The stock has now fallen 44% since announcing its agreement to merge with wireless infrastructure supplier Andrew ( ANDW). Andrew shares, down 26% since the deal was struck, fell 49 cents to $7.40.