ADTRAN (ADTN) Releases Earnings Results, Beats Expectations By $0.02 EPS

ADTRAN (ADTN) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. ADTN said it had a profit of $0.26 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.24. The company posted revenue of $168.90 million in the period, compared to analysts expectations of $162.53 million. ADTN’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

ADTRAN closed down -0.15 points or -0.82% at $18.07 with 1,74,268 shares getting traded on Friday. Post opening the session at $18.34, the shares hit an intraday low of $18.07 and an intraday high of $18.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 29, 2015, Thomas R Stanton (CEO) purchased 31,200 shares at $16.05 per share price. According to the SEC, on Apr 24, 2015, James E Matthews (director) sold 23,000 shares at $16.03 per share price.

ADTRAN Inc. is a global provider of networking and communications equipment. The Company’s solutions enable voice data video and Internet communications across a variety of network infrastructures. The Company operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. The Carrier Networks Division offers broadband and optical infrastructure products and services used by service providers to aggregate transport and deliver voice data and video services to their customers’ premises and mobile network cell sites. The Enterprise Networks Division provides cloud connectivity solutions such as IP business gateways and access routers which provide business access to service provider networks and enterprise communications solutions which enable businesses to construct voice data and video networks at a single customer premises or among a distributed enterprise’s multiple sites.

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