ADC Telecom Lowers Fourth-Quarter Guidance

Publish date:

ADC Telecommunications

(ADCT) - Get Report

lowered fourth-quarter revenue guidance to $380 million to $400 million, down from a previous range of $400 million to $450 million.

The company forecast a loss for the quarter of 7 cents to 8 cents a share. Analysts expect a loss of 4 cents. The company expects to be cash flow positive in 2002 and achieve profitability in the latter part of next year.

The Minneapolis company also said it would record unspecified charges for layoffs and other restructuring. The company's shares were recently down about 1.7% at $4.47.