ADTRAN Q1 Profit Rises; Declares Dividend - Quick Facts

(RTTNews) - Networking and communications equipment provider ADTRAN, Inc. (ADTN) reported that its first quarter net income grew to $9.6 million or $0.17 per share from $7.9 million or $0.13 per share for the year-ago quarter.

Non-GAAP earnings per share for the quarter were $0.21, higher than the $0.17 per share in the prior year quarter.

Sales for the quarter rose to $147.00 million from $143.01 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.17 per share on revenue of $149.65 million for the quarter.

The company also announced that its Board of Directors declared a cash dividend of $0.09 per common share, which is payable to holders of record at the close of business on May 1, 2014.