ADC reported sales from continuing operations for Q1 2006 of $280 million, up 16% over a year earlier. The sales were driven primarily by a 75% growth in the company’s fiber connectivity solutions and 25% growth in its global copper connectivity solutions, and partially offset by lower sales in other areas.
“Our mission for fiscal 2006 is global growth and following significant sales growth in key areas during our first quarter we are raising our annual sales estimate to $1.325-$1.375 billion. In our first fiscal quarter of 2006, our global fiber and copper connectivity solutions grew significantly to support FTTX network deployments in the United States and Europe,” said Robert E. Switz, president and CEO of ADC.
There was a net loss (GAAP) of $2.4 million, or $(0.02) per share. Gross margin was 30.5% compared to 34.1% a year earlier.
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