ADTRAN (ADTN) Revised Q3 Guidance Below Street Estimates
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Price: $7.77 -1.15%
Financial Fact:
Provision for income taxes: -3.1M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Provision for income taxes: -3.1M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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ADTRAN, Inc. (NASDAQ: ADTN) announced revised revenue and earnings estimates for the third quarter ending September 30, 2012. Revenue for the quarter is expected to be approximately $162 million vs. street estimates of $187.20 million.
GAAP earnings per share for the quarter, assuming dilution, are expected to range from $0.14 to $0.15. Non-GAAP earnings per share for the quarter are expected to range from $0.18 to $0.19 vs. street estimates of $0.30.
ADTRAN Chief Executive Officer Tom Stanton stated, “Our performance this quarter continued to be affected by a challenging spending environment stemming largely from macro-economic and regulatory concerns. The largest impact continues to be in the U.S. carrier market where we saw continuing delays in project rollouts exacerbated by a decrease in legacy product sales. Although timing the resolution to these macro concerns remains challenging, recent bidding activity in Tier 1 and Tier 2 carrier accounts both domestically and abroad leave us very confident about our positioning as these markets rebound.”
GAAP earnings per share for the quarter, assuming dilution, are expected to range from $0.14 to $0.15. Non-GAAP earnings per share for the quarter are expected to range from $0.18 to $0.19 vs. street estimates of $0.30.
ADTRAN Chief Executive Officer Tom Stanton stated, “Our performance this quarter continued to be affected by a challenging spending environment stemming largely from macro-economic and regulatory concerns. The largest impact continues to be in the U.S. carrier market where we saw continuing delays in project rollouts exacerbated by a decrease in legacy product sales. Although timing the resolution to these macro concerns remains challenging, recent bidding activity in Tier 1 and Tier 2 carrier accounts both domestically and abroad leave us very confident about our positioning as these markets rebound.”
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