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TMCNet: ADC Q1 net loss down

[February 10, 2010]

ADC Q1 net loss down

Feb 10, 2010 (Datamonitor via COMTEX) -- ADC, a provider of wireline, wireless, cable and enterprise networks, has reported a net loss available to its common shareholders of $11.2 million, or $0.11 per diluted share, for the first quarter ended January 1, 2010, compared to a net loss available to common shareholders of $49.7 million, or $0.47 per diluted share, in the first quarter of fiscal 2009.

For first quarter of fiscal 2010, net sales were $265.6 million, compared to $299.7 million for the first quarter of fiscal 2009. Gross profit was $92.1 million, compared to $74.3 million in the same quarter of fiscal 2009.

Robert Switz, chairman, president and CEO of ADC, said: "ADC's strong first quarter results demonstrate the positive impact of our ongoing efforts to streamline operations. We delivered very good gross margins, managed operating expenses effectively in the face of what remains a challenging CAPEX-spending environment, and bolstered our already strong liquidity position. Based on these results, we're pleased with the continued improvements in our financial performance and expect to demonstrate further progress as we move through fiscal 2010." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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