ADTRAN Posts Q3 Revenue of $162 Million

ADTRAN reported Q3 revenue of $162,125,000 compared to$192,194,000 for the third quarter of 2011. Net income was $9,272,000 for the quarter compared to$36,213,000 for the third quarter of 2011. Earnings per share, assuming dilution, were $0.15 for the quarter compared to $0.56 for the third quarter of 2011.

ADTRAN Chief Executive Officer Tom Stanton stated, “This quarter’s performance came in line with our revised expectations. Although current market conditions limit near term visibility, we are confident that our market share position and globalization efforts will lead to significantly better performance in the future.”

http://www.adtran.com