ADC Reports Sales of $189M, Outlines Four-Part Strategy

ADC reported quarterly sales of $189 million, compared to $192 million in the prior quarter and $235 million for the same period last year. There was a net loss of $1.2 million, or $0.02 GAAP and $0.00 Pro Forma. Some other highlights: 36% of quarterly sales were from outside the U.S., and gross margin was 39%, compared with 14% for the same quarter last year.


ADC also outlined a growth strategy with four objectives: (1) improve organic growth through market share gains, new product development and expansion into adjacent and related markets; (2) develop partnerships and alliances to penetrate new channels and market opportunities; (3) continue to drive cost-efficient operations to improve profit margins and cash flow; and (4) evaluate ADC's portfolio to identify and pursue opportunities for higher growth and profitability. This may include acquisitions in areas of core strengths, as well as placing less emphasis and possibly divesting product lines in areas that are not central to ADC's long-term strategy and core business.
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