ADC Telecom (ADCTD) shares jumped late Wednesday after the company posted strong second-quarter numbers.
The Minneapolis networking-equipment maker posted earnings from continuing operations of $34.5 million, or 28 cents a share, on sales of $316 million for the fiscal second quarter ended April 29. Those numbers compare with a continuing operations loss of 3 cents a share on $153 million in revenue in the year-ago period.
Looking ahead, the company says it expects results for the current quarter ending in July to be roughly even with second quarter's numbers.
Analysts had expected second-quarter sales of $295 million and estimated revenue for the July quarter to be about $305 million.
"We will continue our focus on sales growth and lowering our cost of operations as we execute on our plans for long-term profitable growth," said CEO Bob Switz in a press release Wednesday.
Shares of the tech shop rose 81 cents to $18.95 in postclose trading Wednesday. Last month, the company did a 1-for-7 reverse split.