ADC reported $243 million in quarterly revenue and $0.02 GAAP earnings per share from continuing operations, including special items. The company said it benefited from better than expected sales driven from KRONE sales of $93 million and strong sales for its OmniReach Fiber-to-the-X solutions and professional services.
ADC’s operating expenses were reduced 11% from 4Q04 to $76 million, excluding restructuring and impairment charges.
“We are pleased with our sales growth and operating expense reduction in the first quarter,” said Robert E. Switz, president and CEO of ADC. “Our better than expected first quarter sales of $243 million benefited from the addition of the KRONE acquisition, and strong contributions from our Excluding KRONE’s sales, ADC’s first quarter sales grew 10% year-over-year. With future sales growth and continued progress in lowering our cost of operations, we expect profitable growth in fiscal 2005.”
Total employees were approximately 7,600 as of January 28, 2005 compared to approximately 7,500 as of October 31, 2004 and approximately 5,800 as of January 31, 2004. The increase in employees from October 31, 2004 was primarily a result of increased manufacturing capacity for OmniReach FTTX products, partially offset by the divestiture of the Metrica software business as well as workforce reductions related to the integration of the KRONE acquisition.
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