ADTRAN Inc. Reveals 38% Retreat In Q3 Bottom Line

(RTTNews) - ADTRAN Inc. (ADTN) reported a profit for third quarter that fell compared to the same period last year.

The company said its earnings declined to $7.07 million, or $0.14 per share. This was down from $11.33 million, or $0.21 per share, in last year's third quarter.

Analysts had expected the company to earn $0.14 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.0% to $158.08 million. This was down from $162.89 million last year.

ADTRAN Inc. earnings at a glance:

-Earnings (Q3): $7.07 Mln. vs. $11.33 Mln. last year.
-Earnings Decline (Y-o-Y): -37.6%
-EPS (Q3): $0.14 vs. $0.21 last year.
-EPS Decline (Y-o-Y): -33.3%
-Analysts Estimate: $0.14
-Revenue (Q3): $158.08 Mln vs. $162.89 Mln last year.
-Revenue Change (Y-o-Y): -3.0%