ADTRAN Inc. (ADTN) reported net income for the first quarter of 2013 of $7.89 million or $0.13 per share, versus $12.96 million or $0.20 per share in the same period a year earlier. Non-GAAP earnings per share for the quarter were $0.17 compared to $0.25 for the first quarter of 2012.
On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.
Sales improved to $143.01 million from $134.73 million in the year-ago quarter, while analysts had estimated $139.82 million.
The company also declared a cash dividend for the first quarter of 2013 of $0.09 per common share to be paid to holders of record at the close of business on April 25, 2013.
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