ADTRAN Q3 Profit Tops Estimate

(RTTNews) - ADTRAN, Inc. (ADTN) reported net income for the third quarter of $11.3 million or $0.21 per share, compared to $16.2 million or $0.28 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the third quarter were $0.25, compared to $0.32 in the prior year quarter.

Sales for the third quarter rose to $162.89 million from $177.40 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.20 per share on revenue of $162.75 million for the third quarter. Analysts' estimates typically exclude special items.