Nasdaq To Drop ADC

Communications Today, Nov 25, 2002

Network equipment and services provider ADC Telecommunications [ADCT] expects to be removed from the Nasdaq 100 Index next month because of the decline it its market capitalization. The company, which has been hit hard by the severe slump in spending by telephone companies, believes the Nasdaq will announce the decision on Dec. 13. Investment bank Salomon Smith Barney last month listed ADC among 17 names it expected to be dropped from the index. In October, ADC reiterated its fourth-quarter guidance and outlook for 2003. The company expects fourth-quarter revenues of around $200 million and a loss of between seven cents and nine cents a share.

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