) -- The boogeyman -- also called the global recession -- reared its ugly head in another quarterly earnings report. This time,

ADC Telecom

(ADCT) - Get Report

took a hit in its third quarter, as sales plunged 26% and charges impacted the bottom-line.

Following the earnings announcement after the market close yesterday, investors sent shares down 35 cents, or 4.2%, to $7.94 just after the opening bell today.

ADC Telecom, which makes equipment and software for telecom networks, posted an $800,000 loss, or 1 cent per share, compared to a $15.1 million net income, or 13 cents per share, in the year-earlier quarter. But after excluding certain impacts, like $10.9 million in charges and items from discontinued operations, the company said its adjusted earnings came to 17 cents per share.

Sales fell to $283.4 million in the quarter against a year-earlier top-line showing of $381.8 million.

Looking ahead to the fourth quarter, the company said that sales would range between $160 million to $175 million, with a GAAP bottom-line ranging from a 6-cent loss to 2 cents in earnings. But ADC Telecom chief financial officer James Mathews also added that a change to the fiscal calendar will shorten its fourth quarter to two months from the typical three, thereby excluding a historically strong October showing.

Around the sector, American depositary shares for



were slipping 28 cents, or 7.8%, at $3.33 in the morning.


(CIEN) - Get Report

shares were changing hands at $12.24, or down 12 cents, while



was adding 3 cents at $6.16.

-- Written by Sung Moss in New York

Follow TheStreet.com on


and become a fan on


Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.