Monday, January 24, 2005

ADTRAN Reports Q4 Sales of $105 Million

ADTRAN reported Q4 sales of $104.9 million, compared to $113.8 million in the same quarter of 2003. Earnings per share, assuming dilution, were $0.19 for the quarter compared to $0.26 for the fourth quarter of 2003.

ADTRAN Chairman and Chief Executive Officer Mark Smith stated, "After experiencing significant revenue growth since 2002, we saw a pause in our markets in the last half of 2004. We anticipate this pause will resolve itself as employment and IT spending continue to expand and as carriers continue to aggressively promote consumer broadband services."

The company also announced that its Board of Directors declared a cash dividend for the seventh consecutive quarter. The quarterly cash dividend is $0.08 per common share to be paid to holders of record at the close of business on February 4, 2005.


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