Adc Telecommunications Inc (61478) SEC Filing 10-Q Quarterly report for the period ending Friday, January 1, 2010

Adc Telecommunications Inc

CIK: 61478

Exhibit 99.1

ADC Reports First Quarter 2010 Financial Results

EPS improvement driven by strong margins and cost savings actions

MINNEAPOLIS--(BUSINESS WIRE)--February 8, 2010--ADC (NASDAQ: ADCT) today announced unaudited results for its first quarter ended January 1, 2010.

“ADC’s strong first quarter results demonstrate the positive impact of our ongoing efforts to streamline operations,” said Robert E. Switz, chairman, president and chief executive officer of ADC. “We delivered very good gross margins, managed operating expenses effectively in the face of what remains a challenging CAPEX-spending environment, and bolstered our already strong liquidity position. Based on these results, we’re pleased with the continued improvements in our financial performance and expect to demonstrate further progress as we move through fiscal 2010.

“As we continue to realize the benefits of our improved operations, we expect to drive additional earnings power by maintaining our commitment to creating a more effective and efficient organization,” added Switz. “We also are making strategic gains in the marketplace with our focus on the areas of greatest opportunity in fiber and wireless networks worldwide, exhibited in part by the strength of our business in China and a significant sequential increase in wireless sales in the first quarter.”

First Quarter Fiscal 2010 Results
Due to a change in our fiscal year to September 30, ADC is comparing first quarter 2010 results announced today with the proforma results for the prior year’s first quarter ended December 26, 2008 and the proforma results for the fourth quarter of fiscal 2009 ended September 30, 2009.

  • GAAP earnings from continuing operations were $3.6 million, or $0.04 per share. These GAAP earnings include non-GAAP items of $1.7 million. Excluding these items, the non-GAAP (adjusted) net earnings for the quarter were $1.9 million, or $0.02 per share. A reconciliation of GAAP to non-GAAP financial measures is provided later in this press release.
  • Net sales for first quarter totaled $265.6 million, compared to $299.7 million for the first quarter of fiscal 2009 and $291.2 million for the fourth quarter of 2009. The year-over-year decline reflects principally the impact of the global economic downturn, which was just beginning to impact the business at the same time last year. The sequential decrease is due primarily to expected seasonality and a decline in major carrier spending that the company referenced in its guidance at the end of the fourth quarter.

The following information was filed by Adc Telecommunications Inc on Monday, February 8, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Adc Telecommunications Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Adc Telecommunications Inc.


Assess how Adc Telecommunications Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Adc Telecommunications Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors


SEC Filing Tools
CIK: 61478
Form Type: 10-Q Quarterly Report
Accession Number: 0000950123-10-010523
Submitted to the SEC: Tue Feb 09 2010 5:18:36 PM EST
Accepted by the SEC: Tue Feb 09 2010
Period: Friday, January 1, 2010
Industry: Telephone And Telegraph Apparatus

External Resources:

Bookmark the Permalink: