HUNTSVILLE, Ala.--(BUSINESS WIRE)--
ADTRAN, Inc. (NASDAQ: ADTN) announced revised revenue and earnings
estimates for the first quarter ending March 31, 2014. Based upon
information currently available, revenue for the quarter is expected to
range from $146.0 million to $147.0 million. GAAP earnings per share for
the quarter, assuming dilution, are expected to range from $0.16 to
$0.17. Non-GAAP earnings per share for the quarter are expected to range
from $0.20 to $0.21. Non-GAAP earnings per share exclude the effect of
acquisition related expenses, amortizations and adjustments, and stock
compensation expense.
ADTRAN Chief Executive Officer Tom Stanton stated, “Although revenue for
the quarter came in lower than expected, operating income increased
approximately 74% over the same period last year driven by significant
improvements in gross margin. Our domestic revenues were negatively
impacted by a slower start to spending with our tier 2 and tier 3
service provider customers. International revenues were strong for the
quarter, increasing approximately 56% over the same period last year. We
saw a notable acceleration in bookings later in the quarter, but the
timing precluded us from meeting our prior revenue expectations. The
significant acceleration we saw in bookings exiting the quarter leads us
to anticipate revenue in the second quarter of 2014 to be in the range
of $172 million to $180 million.”
The Company confirmed that its first quarter conference call will be
held Wednesday, April 16, 2014 at 9:30 a.m. Central Time. This
conference call will be web cast live through StreetEvents.com. To
listen, simply visit the Investor Relations site at www.adtran.com
or www.streetevents.com
approximately 10 minutes prior to the start of the call and click on the
conference call link provided.
An online replay of the conference call will be available for seven days
at www.streetevents.com.
In addition, an online replay of the conference call, as well as the
text of the Company's earnings release, will be available on the
Investor Relations site at www.adtran.com
for at least 12 months following the call.
ADTRAN, Inc. is a leading global provider of networking and
communications equipment. ADTRAN's products enable voice, data, video
and Internet communications across a variety of network infrastructures.
ADTRAN solutions are currently in use by service providers, private
enterprises, government organizations, and millions of individual users
worldwide. For more information, please visit www.adtran.com.
For more information, contact the company at 800 9ADTRAN (800 923-8726)
or via email at [email protected]. On
the Web, visit www.adtran.com.
This press release contains forward-looking statements which reflect
management's best judgment based on factors currently known. However,
these statements involve risks and uncertainties, including the
successful development and market acceptance of new products, the degree
of competition in the market for such products, the product and channel
mix, component costs, manufacturing efficiencies, and other risks
detailed in our annual report on Form 10-K for the year ended December
31, 2013. These risks and uncertainties could cause actual results to
differ materially from those in the forward-looking statements included
in this press release.
