ADTRAN, Inc. (ADTN: Quote) said it now expects first-quarter earnings per share to range from $0.17 to $0.20. Non-GAAP earnings per share for the quarter are expected to range from $0.22 to $0.25.
Revenue for the first quarter is currently expected to range from $130 million to $135 million.
ADTRAN chief executive officer Tom Stanton, said, "Two issues impacted us in the first quarter. The first was a slower than normal start to the seasonal buying pattern at some of our carrier customers. The second, which had a greater impact, was a delay in both the start and ramp of orders from a carrier customer due to new system implementations. Order rates for the month of March have substantially improved and we are encouraged that the prior slowdown that we experienced is behind us."
ADTRAN noted that acquisition related expenses, amortizations and adjustments related to the acquisition of Bluesocket, Inc. and the planned acquisition of the NSN Broadband Access business is estimated to reduce earnings per share by $0.02 for the first quarter 2012. Stock-based compensation expense is estimated to reduce earnings per share by $0.03 for quarter, the company added.
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by RTT Staff Writer
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