Network infrastructure firm ADC Telecommunications Inc on October 04 forecast fiscal fourth-quarter earnings from continuing operations at 15 to 19 cents a share, below analysts expectations.
Analysts on average expect ADC to earn 28 cents a share on $321 million in revenue in the quarter, according to Reuters Estimates.
The Minneapolis company's sales forecast also undershot analysts' forecasts. It said it expected sales of $290 million to $300 million, including $8 million from Fiber Optic Network Solutions, a business acquired in August.
Excluding the Fiber Optic Network Solutions (FONS) sales, ADC's fourth-quarter sales are expected to be 7 to 11 percent higher than the year-ago period, while EPS is now expected to rise 15 to 46 percent from the year-ago 13 cents, the company said.