HUNTSVILLE, Ala.--(BUSINESS WIRE)--Apr. 8, 2016--
ADTRAN®,
Inc., (NASDAQ:ADTN), a leading provider of next-generation open
networking solutions, today announced a change in the reporting of its
financial results to better match its market opportunities and
technology development initiatives. Beginning with the publication of
its earnings report for the quarter ending March 31, 2016, ADTRAN, Inc.
(the “Company”) will report its financial performance based on two new
reportable segments – Network Solutions and Services & Support. In
addition to the new reporting segments, the Company will also report
revenue for the three categories - Access & Aggregation, Customer
Devices, and Traditional & Other Products.
Operating Segments
ADTRAN’s new operating segments are Network Solutions and Services
& Support.
Revenue Categories
ADTRAN will report revenue for the following three categories – Access &
Aggregation, Customer Devices, and Traditional & Other Products.
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Access & Aggregation solutions in general are used by
communications service providers to connect their network
infrastructure to their subscribers. This category includes software
and hardware based products and services that aggregate and/or
originate access technologies. The portfolio of ADTRAN solutions
within this category includes a wide array of modular or fixed
physical form factors designed to deliver the best technology and
economic fit based on the target subscriber density and environmental
conditions.
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Customer Devices in general includes the products and services
that provide end users access to the communication service provider
networks. The Customer Devices portfolio includes a comprehensive
array of hardware and software products and services.
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Traditional & Other Products in general include a mix of
prior generation technologies’ products and services as well as other
products and services that do not fit within the Access & Aggregation
or Customer Devices categories.
Recast Segment and Category Financial Reporting
The Company will announce its financial results for the first quarter
after market close on April 12, 2016, and will report financial
performance based on these two new operating segments. To aid investors
with the transition, for the first quarter results only, revenue and
gross margin will also be provided for the operating segments that
ADTRAN reported during fiscal year 2015.
Financial segment information for the four quarters and the full year
for fiscal years 2014 and 2015, as if reported under the new operating
segment structure, will be available in an 8-K filing and concurrently
on the Company Web site at http://www.adtran.com,
prior to our first quarter earnings call on April 13, 2016.
Please refer to the form 8-K filed on April 8, 2016 with the SEC which
provides the new format of the Company’s quarterly segment revenue,
segment gross profit, and product category revenue for the years ended
December 31, 2015 and 2014 that will be recast during the first quarter
of 2016.
About ADTRAN
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160408005740/en/
Source: ADTRAN, Inc.
ADTRAN, Inc.
Roger Shannon, 256-963-8775
Senior Vice President
& CFO
or
Gayle Ellis, 256-963-8220
Investor Services