logo
Share SHARE
FONT-SIZE Plus   Neg

Adtran Q1 Profit Declines; Declares Cash Dividend - Quick Facts

Networking and communications equipment provider ADTRAN Inc. (ADTN) reported that its first quarter net income declined to $12.96 million from $34.26 million in the prior year quarter. Earnings per share, assuming dilution, were $0.20 for the quarter compared to $0.52 a year earlier. Non-GAAP earnings per share for the quarter were $0.25 compared to $0.55 for the first quarter of 2011.

On average, 11 analysts polled by Thomson Reuters expected earnings of $0.20 per share for the quarter. Analysts' estimates usually exclude one-time items

Quarterly sales were $134.74 million, down from $165.52 million in the previous year. Analysts expected the company to generate revenues of $134.15 million for the quarter.

The company also announced that its Board of Directors declared first quarter cash dividend of $0.09 per common share to be paid to holders of record at the close of business on April 26, 2012. The ex-dividend date is April 24, 2012 and the payment date is May 10, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Electric car maker Tesla's Chief Elon Musk confirmed that there will be no discount on new cars. Through several tweets and an email addressing its employees, Musk said, "It is absolutely vital that we adhere to the no negotiation and no discount policy that has been true since we first started taking orders 10 years ago." Shares of National Beverage Corp. fell about 15 percent on Wednesday after short selling firm Glaucus Research Group has said it is shorting the soft-drink maker and accused the company of manipulating earnings. In a research report, Glaucus alleged that National Beverage achieved its "remarkable history of financial performance in part by manipulating earnings." Canadian pipeline operator Enbridge Inc. said it has agreed to sell its liquids pipeline assets in the South Prairie Region, including the Saskatchewan pipeline system, to privately-held midstream company Tundra Energy Marketing Ltd. for C$1.075 billion in cash.
comments powered by Disqus
Follow RTT