Wednesday, August 3, 2022

ADTRAN posts Q2 revenue of $172 million

ADTRAN reported Q2 revenue of $172.0 million, net income of $2.1 million and earnings per share of $0.04. Non-GAAP net income was $9.7 million and non-GAAP earnings per share was $0.19.

ADTRAN Chairman and Chief Executive Officer Tom Stanton stated, “We had a strong Q2 fueled by the growing demand for our fiber broadband platforms. Customer demand continues to grow at record levels. We increased revenue both quarter-over-quarter and year-over-year in our domestic and international markets, and also throughout our customer segments. This provides continued momentum as we move forward with our integration of ADVA. The combination of these two companies will strengthen our overall solution portfolio and provide the resources necessary to maximize our success in this unprecedented investment cycle in fiber networks.”

The company also announced that its Board of Directors declared a cash dividend for the second quarter of 2022. The quarterly cash dividend of $0.09 per common share is to be paid to the Company’s stockholders of record as of the close of business on August 18, 2022. The ex-dividend date is August 17, 2022 and the payment date will be September 1, 2022.