Adtran: 2Q Earnings Snapshot
HUNTSVILLE, Ala. (AP) _ Adtran Inc. (ADTN) on Wednesday reported second-quarter net income of $5.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Huntsville, Alabama-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, came to 14 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The networking equipment maker posted revenue of $156.4 million in the period.
Adtran shares have climbed 47% since the beginning of the year. The stock has declined 1% in the last 12 months.