Wednesday, February 2, 2022

ADTRAN cites record-setting bookings, fiber access up 48% yoy

ADTRAN reported Q4 2021 revenue of $154.2 million. Earnings for the fourth quarter of 2021 were a net loss of $4.2 million and earnings per share was a loss of $0.09. Non-GAAP net income was $4.7 million and non-GAAP earnings per share was $0.10.

ADTRAN Chairman and Chief Executive Officer Tom Stanton stated, “We continue to experience unprecedented demand for our solutions with another record-setting quarter for bookings. These record bookings were combined with record product revenue for both our fiber access platforms, up 48% year-over-year, and residential Wi-Fi platforms, up 72% year-over-year. The growth in these strategic segments was across a diverse mix of large and small service providers in the U.S. and Europe, highlighting the success we have had with customer diversification. Our success in capturing fiber footprint, bundling mesh Wi-Fi platforms and cloud software with fiber access, and the portfolio synergies offered by the announced ADVA combination provide an optimistic outlook for continued growth.”

ADTRAN has declared a quarterly cash dividend of $0.09 per common share to be to stockholders of record as of the close of business on February 17, 2022.