AP NEWS

Adtran: 3Q Earnings Snapshot

October 31, 2019 GMT

HUNTSVILLE, Ala. (AP) _ Adtran Inc. (ADTN) on Wednesday reported a third-quarter loss of $46.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Huntsville, Alabama-based company said it had a loss of 96 cents. Losses, adjusted for one-time gains and costs, were 6 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The networking equipment maker posted revenue of $114.1 million in the period.

Adtran shares have decreased 11% since the beginning of the year. The stock has decreased 30% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADTN at https://www.zacks.com/ap/ADTN