ADC reports $1.05 B net losses in Q2
ADC reported a net loss of $1.05 billion or $1.33 a share during its second quarter of 2001. The company also saw sales decrease to $652 million from $771 million a year ago.
Chair and CEO Richard R. Roscitt cited capital spending markets, and said the company is being restructured and streamlined. It also is refocusing on such growth areas as optics, DSL, IP cable and software.
Last month, the company announced it would merge its Broadband Connectivity and its Broadband Access and Transport groups into one unit that would focus on optics, DSL, IP cable and broadband connectivity.