View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 28, 1998


By CBR Staff Writer

ADC Telecommunications Inc the Minneapolis-based provider of networking hardware for the telecommunications industry has seen its share price hit the skids and fall 37.5% to $17.50 this week, as a result of two successive profit warnings. Since the start of the year the stock has plummeted 57.3%, after a first quarter profit warning announced on 13 January, with earnings predicted as well below of the analysts estimates of $0.26 per share. The company has now been forced to admit that its earnings will be worse even than the analysts downgraded estimate, with revenue growing 10% to 15% with earnings flat compared with the first quarter of 1997. The company believes that its performance has been affected by a historic low seasonal demand for its products, the Asian financial crisis, and a slow down in demand from communications companies.

Content from our partners
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business
When it comes to AI, remember not every problem is a nail

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.