Adtran Revises Q4 Outlook
HUNTSVILLE, Ala. -- ADTRAN, Inc. (NASDAQ: ADTN) announced revised revenue and earnings estimates for the fourth quarter ending December 31, 2017. Based upon information currently available, revenue for the quarter is expected to be approximately $125 million. Non-GAAP earnings per share for the quarter are expected to be approximately $0.01. GAAP earnings per share for the quarter, assuming dilution, are expected to be a loss of approximately $0.04. Further, our current expectations are that revenue for the first quarter of 2018 will be in the range of the fourth quarter of 2017.
ADTRAN Chief Executive Officer Tom Stanton stated, “Our performance this quarter has been significantly impacted by a merger-related review and slowdown in the spending at a domestic Tier 1 customer. Our current understanding is that this review will be completed in 60 to 90 days, at which time capital plans will be finalized. Going forward, recent awards and trials in Tier 1 customer accounts, both domestically and abroad, leave us very confident about our positioning.”
GAAP earnings per share exclude any potential income tax effects of the Tax Cuts and Jobs Act. Non-GAAP earnings per share exclude the effect of acquisition-related expenses, amortizations and adjustments, and stock compensation expense.
ADTRAN Inc. (Nasdaq: ADTN)