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July 18, 1997updated 05 Sep 2016 12:54pm

ANDREW CORP REPORTS HUGE SLUMP IN PROFITS

By CBR Staff Writer

Communication equipment and services supplier, Andrew Corp is blaming sluggishness in the US personal communication services arena and a weak European cellular accessories market on its disappointing third quarter results. The Orland Park, Illinois- based firm saw third quarter net profits fall 67.8% to $7.7m, although revenue grew 10% to $208.9m. Chairman, president and chief operating officer, Floyd English said he was disappointed with third quarter performance, but remained confident that the company would be able to pick itself up and perform well on a global basis in the future. Cellular, broadcast and land mobile markets led the way in the quarter to June 30, which offset a soft domestic personal computer market. The company said after long deliberation it is discontinuing its network products business and will be restructuring its European wireless products business and phasing out fiber optic sensor and global messaging development.

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