Cable Design Jumps After Topping Estimate

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Cable Design Technologies (CDT) was up 7.8% in midmorning after it posted fourth-quarter earnings excluding charges of 12 cents per share, ahead of the Thomson Financial/First Call consensus of 10 cents.

The fiber-optic components maker said fiscal restraint and strong cash flow allowed it to cut its debt by $28.3 million in the 2001 budget year.

Sales for the quarter were $164.5 million, down from $227.1 million last year. The decrease was primarily due to slowed telecommunications spending and the previously announced loss of a major wireless assembly customer.