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Technology Stocks : ADC Telecommunications -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (1255)	11/2/2000 6:13:03 AM
From: Jay Mowery	Read Replies (3) \| Respond to of 1944

Hey Tom,Bosco,Max and All, P/R this mornin'. Ya'll have a good day. corporate-ir.net For immediate release- ADC Expects Strong Fourth Quarter 2000 Results MINNEAPOLIS--(BUSINESS WIRE)--Nov. 2, 2000--ADC (Nasdaq:ADCT, www.adc.com), a leading global supplier of fiber optics, network equipment, software and integration services for broadband, multiservice networks, today announced that it expects sales to exceed $1 billion in the fourth quarter ended October 31, 2000, an increase of approximately 60% over sales of $634 million in the comparable quarter of 1999. All amounts are estimated as of November 1, 2000. The 1999 sales are restated to account for ADC's three pooling-of-interests acquisitions completed during fiscal year 2000. ADC expects to meet or exceed the diluted earnings per share consensus estimates, before non-recurring credits and charges, of $0.17 per share in the fourth quarter of 2000 and $0.46 per share for fiscal year 2000. ADC also confirmed its expectation to achieve the diluted earnings per share consensus estimates, before non-recurring credits and charges, in the range of $0.68 to $0.70 per share for fiscal year 2001. The source of the consensus estimates is First Call(R). "We are pleased to reach another significant milestone in ADC's financial performance - surpassing one billion dollars in sales for the first time in a quarter, " said William J. Cadogan, chairman and chief executive officer of ADC. "Despite recent market concerns, we remain confident that we can achieve our long-term goals for annual sales growth at 25% to 30% with earnings per share growth at the same or higher rate, before non-recurring credits and charges. ADC's strong operating results to date and continued strong growth expectations are a result of our leading market positions, diversified product mix and broad global customer base, supported by our outstanding employees, significant capacity expansions worldwide, critical-mass acquisitions and innovative new product platforms." YBJay