ADTRAN's Beats On Q4 Earnings, Operating Cash Flow Remains Negative - Adtran Holdings (NASDAQ:ADTN)

ADTRAN, Inc. (NASDAQ: ADTN) reported year-on-year revenue growth of 12.4% to $130.1 million in the fourth quarter of FY20, beating consensus by $2.33 million. Network Solutions revenue rose 18.6% to $114.1 million, and Services & Support revenue declined 18% to $16 million.
Gross profit rose 13.4% to $53.5 million as the margin remained flat.
Operating loss narrowed by 76.4% to $3.3 million. The net income stood at $5.2 million, against a net loss of $2.5 million in the year-ago period.
The EPS stood at $0.11, versus a net loss per share of $0.05 in the year-ago period, exceeding analyst consensus by $0.04.
Cash and cash equivalents stood at $60.2 million as of December 31, 2020.
Operating cash flow loss for the full year stood at $16.5 million compared to a $2.5 million loss in the year-ago period.
"We saw substantial growth in our Tier-2 and Tier-3 service provider segments in the U.S. and a solid increase in fiber deployments in Europe. We expect that our fiber access solutions will continue to be adopted by customers around the world," said ADTRAN CEO Tom Stanton.
The dividend per share for the fourth quarter of FY20 remains unchanged at $0.09.
Price Action: ADTN shares are trading lower by 3.56% at $16.50 on the last check Thursday.