ADTRAN reported financial results for the second quarter ended June 30, 2017 as follows:
1. Revenue for the second quarter of 2017 of $184.67 million, up 8.4% compared to $170.28 million in the first quarter and up 13.5% from $162.70 million for the second quarter of 2016.
2. Gross profit for the second quarter of $84.63 million, up 14.8% compared to $73.71 million in the first quarter and up 7.2% from $78.95 million for the second quarter of 2016.
3. R&D expenditure for the second quarter of $33.50 million, up 4.9% compared to $31.92 million in the first quarter and up 7.1% from $31.28 million for the second quarter of 2016.
4. SG&A expenditure for the second quarter of $34.68 million, down 0.3% compared to $34.77 million in the first quarter and up 1.8% from $32.87 million for the second quarter of 2016.
5. Total operating expenditure for the second quarter of $68.18 million, up 2.2% compared to $66.68 million in the first quarter and up 6.3% from $64.14 million for the second quarter of 2016.
6. Net income for the second quarter of 2016 of $12.40 million, compared to net income of $6.65 million in the first quarter and net income of $10.23 million for the second quarter of 2016.
7. Cash, cash equivalents and short-term investments as of June 30, 2017 of $136.13 million, versus $125.02 million as at March 31, 2017 and $123.08 million as at December 31, 2016.
Additional results and notes
ADTRAN reported Network Solutions revenue in the second quarter 2017 of $155.54 million, versus $143.60 million in the first quarter, and Services & Support revenue of $29.13 million, compared with $26.68 million in the first quarter. Access and Aggregation revenue totalled $138.64 million, versus $120.14 million in the first quarter.
For the second quarter, ADTRAN reported domestic revenue of $146.71 million, versus $119.26 million in the first quarter, with international revenue of $37.96 million, compared with $51.02 million in the first quarter.
