Andrew Corporation Updates 3rd Quarter Estimates
ORLAND PARK, Ill., June 15 /PRNewswire/ -- Andrew Corporation
(Nasdaq: ANDW), a global communications systems equipment supplier, issued
updated financial estimates for the quarter ended June 30, 2001. For the
third quarter ending June 30, 2001, net sales are expected to be in the range
of $235 million to $240 million, compared with the previous estimate of
$260 to $270 million. Earnings per share are expected in the range of $.12 to
$.15 compared with the previous estimate of $.21 to $.25. Last year, sales in
the June quarter were $259 million and earnings per share were $.26.
Guy M. Campbell, President and CEO said, "The slowdown in
telecommunications equipment spending in the U.S. and Europe has continued
during the June quarter. However, we have recently seen an increase in order
flow in the U.S. and are continuing to see significant growth in orders and
sales in Asia. Orders in the June quarter are expected to exceed sales."
Mr. Campbell added, "We are confident that the telecommunications
industry's long term fundamentals and growth drivers are positive. Our
expanded RF sub-system offering of HELIAX(R) cables, connectors, cable
assemblies and terrestrial microwave systems with base station antennas, and
high power amplifiers will continue to provide significant growth
opportunities for Andrew Corporation. Because of pent-up demand, the
continuing need for new infrastructure in international markets and the
impending rollout of 3G in Europe, we are optimistic about our fiscal year
2002 and beyond."
Andrew Corporation plans to release financial results for the quarter
ended June 30, 2001 on July 19, 2001. |
