ADTRAN Posts Record Q1 Revenue of $165 Million

ADTRAN reported record Q1 2011 revenue of $165 million for the quarter, up 30% compared to $127 million for the first quarter of 2010. Operating income increased 80% to $45.6 million for the quarter compared to $25.3 million for the first quarter of 2010. Net income increased 88% to $34.3 million for the quarter, compared to $18.2 million for the first quarter of 2010. Earnings per share, assuming dilution, increased 79% to $0.52 for the quarter, compared to $0.29 for the first quarter of 2010.

ADTRAN Chief Executive Officer Tom Stanton stated, "For the quarter our combined growth areas grew 51% over the previous year, allowing the company to achieve its fourth consecutive quarterly revenue record. Moreover, each of the individual segments within this category achieved new records. Broadband Access saw revenue growth of 42% over first quarter 2010, led by the continued success of our Total Access 5000 platform. Our Internetworking category grew 48%, fueled by channel expansion and growing acceptance of new applications. Optical Access grew an impressive 86%, driven by the increasing demand for mobile data. We are pleased with the long term prospects of the markets we serve and our company's position to deliver positive results."http://www.adtran.com