<<<Reuters, 08/23/2000 15:07
ADS shares continue slide
NEW YORK, Aug 23 (Reuters) - Shares of telecommunications equipment maker ADC Telecommunications Inc. (NASDAQ:ADCT) on Wednesday continued to fall, following a meeting last week that left some investors wary of the company's future acquisition plans, analysts said.
Shares were off 1-1/4 to 37-15/16 in afternoon trading Wednesday, after having fallen from 47-1/4 Friday.
On Thursday, the Minneapolis-based company said its fiscal third-quarter net income more than doubled on strong sales of its high-speed connection products. During a conference call that followed, company officials were slightly vague about their plans for further acquisitions, which analysts quickly point out have been very successful in the past year.
"There's concern who they might buy and how they might integrate it," U.S. Bancorp Piper Jaffray analyst Frank McEvoy said.
"It all centers around the potential acquisition," other analyst said, adding the concern includes effects on future earnings.
The company's 52-week high was 49, its low 8-9/16.
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