HUNTSVILLE, Ala.--(BUSINESS WIRE)--
ADTRAN, Inc. (NASDAQ: ADTN) announced revised revenue and earnings
estimates for the fourth quarter ending December 31, 2017. Based upon
information currently available, revenue for the quarter is expected to
be approximately $125 million. Non-GAAP earnings per share for the
quarter are expected to be approximately $0.01. GAAP earnings per share
for the quarter, assuming dilution, are expected to be a loss of
approximately $0.04. Further, our current expectations are that revenue
for the first quarter of 2018 will be in the range of the fourth quarter
of 2017.
ADTRAN Chief Executive Officer Tom Stanton stated, “Our performance this
quarter has been significantly impacted by a merger-related review and
slowdown in the spending at a domestic Tier 1 customer. Our current
understanding is that this review will be completed in 60 to 90 days, at
which time capital plans will be finalized. Going forward, recent awards
and trials in Tier 1 customer accounts, both domestically and abroad,
leave us very confident about our positioning.”
GAAP earnings per share exclude any potential income tax effects of the
Tax Cuts and Jobs Act. Non-GAAP earnings per share exclude the effect of
acquisition-related expenses, amortizations and adjustments, and stock
compensation expense.
The Company confirmed that its fourth quarter conference call will be
held Wednesday, January 17, 2018, at 9:30 a.m. Central Time. ADTRAN will
webcast this conference. To listen, simply visit the Investor Relations
site at www.investors.adtran.com
approximately 10 minutes before the start of the call and click on the
conference call link provided.
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 approximately 24 hours following the call and will remain available
for at least 12 months.
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 investor.relations@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, 2016. These risks and uncertainties could cause actual results to
differ materially from those in the forward-looking statements included
in this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171228005617/en/
Source: ADTRAN, Inc.