Thursday, September 9, 2010

ADTRAN Posts Revenue of $162 Million, up 27%

ADTRAN reported Q3 sales of $162.9 million, up 27% over the $128.1 million for the same period last year. Net income increased 49% to $32.1 million.

ADTRAN Chief Executive Officer Tom Stanton stated, "During the quarter, we continued to benefit from our positioning with industry growth areas as we experienced increased revenues across all our carrier segments and all our enterprise channels. Increasing demand for high speed residential and enterprise network services coupled with accelerating growth in mobile demand all led to a record revenue performance. Our Broadband Access category led this increase achieving 53% growth over the prior year, setting a new record level. This was followed by our Internetworking category which posted 39% year over year growth, also achieving a record level. We believe the broad based increase in revenue we are seeing demonstrates the success of our strategies to sustain solid, long term growth for our company."

See also