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ADC (ADCT) - Get ADC Therapeutics Ltd Report came up light for its fiscal first quarter but guided higher for 2006.

Excluding special items, the Minneapolis networking-gear maker posted pro forma earnings of 9 cents a share on $280 million in sales for the quarter ended Jan. 27. Those numbers compare with an adjusted profit of 9 cents on sales of $240 million in the year-ago period and 18 cents a share on $301 million in revenue in the prior quarter.

Analysts were looking for a fiscal first-quarter profit of 10 cents on sales of $282 million, according to Reuters Research.

On a GAAP basis, ADC had a net loss of $2.4 million, or 2 cents a share, from continuing operations. Those results included an $11 million charge for restructuring.

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Looking ahead, the company expects sales of about $1.35 billion for the fiscal year ending in October. For the full year, analysts had expected $1.31 billion in revenue.

ADC shares rose 96 cents to $26.19 in after-hours trading Wednesday.