ADTRAN, Inc. Reports Results for the Second Quarter 2015 and Declares Quarterly Cash Dividend
Via Adtran Newsroom
Jul 15, 2015
HUNTSVILLE, Ala.--(BUSINESS WIRE)--Jul. 14, 2015-- ADTRAN, Inc. (NASDAQ:ADTN) reported results for the second quarter 2015. For the quarter, sales were $160,138,000 compared to $176,129,000 for the second quarter of 2014. Net income was $2,544,000 compared to $14,395,000 for the second quarter of 2014. Earnings per share, assuming dilution, were $0.05 compared to $0.26 for the second quarter of 2014. Non-GAAP earnings per share were $0.10 compared to $0.30 for the second quarter of 2014. The reconciliation between GAAP earnings per share, diluted, and non-GAAP earnings per share, diluted, is in the table provided.
ADTRAN Chief Executive Officer Tom Stanton stated, “Revenue for the quarter came in higher than expected, driven by the timing of CAF-related orders in our domestic business. EPS on a GAAP basis was reduced due to one-time restructuring charges as we continue to focus our company on the opportunities that are ahead. During the quarter, we saw an increase in broadband infrastructure activity in our domestic markets as carriers seek to position themselves competitively and utilize CAF funding to accelerate their deployment plans.”
The Company also announced that its Board of Directors declared a cash dividend for the second quarter of 2015. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on July 30, 2015. The ex-dividend date is July 28, 2015 and the payment date is August 13, 2015.
The Company confirmed that its second quarter conference call will be held Wednesday, July 15, 2015 at 9:30 a.m. Central Time. This conference call will be web cast live through StreetEvents.com. To listen, simply visit the Investor Relations site at www.adtran.com or www.streetevents.com approximately 10 minutes prior to the start of the call and click on the conference call link provided.
An online replay of the conference call will be available for seven days at www.streetevents.com. In addition, 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 at www.adtran.com for at least 12 months following the call.
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