Bargains for Under $25 HP Envy 34 All-in-One PC Review Best Fitbits T-Mobile Data Breach Settlement ExpressVPN Review Best Buy Anniversary Sale Healthy Meal Delivery Orville 'Out Star Treks' Star Trek
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

ADC sees $1 billion in 4Q sales

Amid worries about telecommunications capital spending, ADC Telecommunications (Nasdaq: ADCT) said Thursday it will meet or exceed estimates for its fourth quarter. ADC also sees more than $1 billion in sales for the quarter.

ADC is just the latest telco gear maker to issue a bullish outlook. On Wednesday, Nortel (NYSE: NT) reiterated its previous revenue and earnings targets in a move to stabalize its stock. JDS Uniphase (Nasdaq: JDSU) also recently issued a bullish outlook. However, with carriers such as WorldCom (Nasdaq: WCOM) struggling, concerns about telecommuncations equipment spending persist.

ADC said sales will top $1 billion in the fourth quarter, up 60 percent from sales of $634 million in the same quarter a year ago. Earnings will "meet or exceed" First Call Corp. estimates calling for a profit of 17 cents a share and 46 cents a share for the year.

The company said the projections didn't include charges, which will total roughly 68 cents a share to 70 cents a share for the fiscal year.

"Despite recent market concerns, we remain confident that we can achieve our long-term goals for annual sales growth at 25 percent to 30 percent with earnings per share growth at the same or higher rate, before non-recurring credits and charges," said ADC CEO William J. Cadogan in a statement.

ADC reports earnings Nov. 28.>