Tuesday, July 13, 2010

ADTRAN Posts Record Q2 Sales of $150 Million, Up 24%

ADTRAN reported record Q2 2010 sales of $150,361,000, up 24% compared to $121,528,000 for the second quarter of 2009. Operating income increased 48% to $38,617,000 for the quarter compared to $26,135,000 for the second quarter of 2009. Net income increased 47% to $27,751,000 for the quarter, compared to $18,839,000 for the second quarter of 2009. Earnings per share, assuming dilution, increased 47% to $0.44 for the quarter, compared to $0.30 for the second quarter of 2009.


ADTRAN Chief Executive Officer Tom Stanton stated, "Strong demand for high speed connectivity coupled with increasing demand for Ethernet services led to our record revenue performance. Our Broadband Access category led this increase achieving 43% growth over the prior year and setting a new record level. This was followed by our Internetworking category which posted 37% year over year growth, also achieving a record level. With this quarter showing growth across all our carrier segments and all our enterprise channels, we feel confident that our industry leading product portfolio will continue to see benefit from carriers and enterprises as they upgrade their infrastructure to take advantage of the capabilities and savings offered by network convergence." http://www.adtran.com

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