UPDATE 1-ADC Q2 profit tops Wall Street view

Wed Jun 3, 2009 11:23pm BST
 
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* Q2 net loss $0.11/shr vs EPS $0.14 year ago

* Q2 adj EPS $0.05 vs est $0.02

* Q2 net sales down 30 pct to $275.1 mln

* To restructure EMEA operations, reduce workforce

* Sees Q3 rev $265-$290 mln

June 3 (Reuters) - Network equipment maker ADC Telecommunications Inc (ADCT.O) posted a better-than-expected second-quarter profit, helped by strong sales in China, and it forecast third-quarter revenue largely in line with market estimates.

The broadband data access and infrastructure equipment maker said it would further reduce its Europe, Middle East and Africa (EMEA) workforce and take additional charges of $15 million to $25 million.

The company began to reduce the size of its EMEA workforce in the second quarter, resulting in a charge of about $3 million in the period.

For the second quarter ended May 1, the company reported a net loss of $10.9 million, or 11 cents a share, compared with a profit of $16.3 million, or 14 cents a share, a year ago.  Continued...

 

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