Adtran: 3Q Earnings Snapshot
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.