Adtran Q4 Results Top Estimates

(RTTNews) - Adtran Inc. (ADTN) reported that its fourth quarter net loss was $4.19 million or $0.09 per share compared to $6.11 million or $0.13 per share in the same quarter last year.

Non-GAAP net income was $4.72 million or $0.10 per share compared to $5.24 million or $0.11 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Quarterly revenue grew to $154.16 million from $130.13 million in the prior year. Analysts expected revenue of $141.27 million for the quarter.

The company also announced that its Board of Directors declared a cash dividend for the fourth quarter of 2021. The quarterly cash dividend of $0.09 per common share is to be paid to the Company's stockholders of record as of the close of business on February 17, 2022. The payment date will be March 3, 2022.