HUNTSVILLE, Ala.--(BUSINESS WIRE)--Oct. 2, 2014--
ADTRAN, Inc. (NASDAQ: ADTN) announced revised revenue and earnings
estimates for the third quarter ending September 30, 2014. Based upon
information currently available, revenue for the quarter is expected to
range from $162.0 million to $163.0 million. GAAP earnings per share for
the quarter, assuming dilution, are expected to range from $0.19 to
$0.20. Non-GAAP earnings per share for the quarter are expected to range
from $0.23 to $0.24. 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 we did see
a sequential increase on our domestic carrier business, that increase
was not enough to overcome the more than expected sequential decrease in
our European business and a softer enterprise spending environment. We
expect a material improvement in results beginning in 2015 as we see a
re-acceleration in carrier spending both in Europe and the US. We
believe the shortfall in enterprise spending was influenced by inventory
corrections which we expect to be resolved as we enter 2015.”
The Company confirmed that its third quarter conference call will be
held Wednesday, October 15, 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 info@adtran.com. 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 and on Form 10-Q for the quarter ended June 30, 2014. These
risks and uncertainties could cause actual results to differ materially
from those in the forward-looking statements included in this press
release.
Source: ADTRAN, Inc.
ADTRAN, Inc.
Jim Matthews, 256-963-8775
Senior Vice
President/CFO
or
Investor Services/Assistance:
Gayle
Ellis, 256-963-8220