ADC Trims 2Q Loss


ADC Telecommunications Inc. lowered its fiscal-second-quarter net loss to $26.6 million, or 3 cents per share, versus $29.4 million (4 cents) in the year-ago period.

Sales in the quarter ended April 30 fell to $182.2 million from $186 million in the year-earlier quarter but rose from $168.5 million in the company’s fiscal first quarter.

In other ADC news, the company said Tuesday that it completed its acquisition of KRONE Group from GenTek Inc.

KRONE is a provider of copper- and fiber-optic-based cabling and connectivity systems.

The transaction -- originally announced in late March -- was valued at approximately $350 million, of which ADC paid net cash of some $294 million and assumed certain defined liabilities consisting principally of KRONE's pension obligation for its German work force.