ADC Telecommunications (ADCT) - Get Report was down 15% in preopen Island trading. After Thursday's close, the telecom equipment maker reported a pro forma second-quarter loss of 15 cents per share, worse than the Thomson Financial/First Call estimate of 13 cents and the year-ago 10-cent profit.

Including all items and charges, the loss was $1.33 per share. ADC said it expects the economic slowdown to continue for the rest of the year.

Credit Suisse First Boston

and

Robertson Stephens

cut estimates for the company this morning.