Adtran: 4Q Earnings Snapshot
HUNTSVILLE, Ala. (AP) _ Adtran Inc. (ADTN) on Wednesday reported a loss of $8.4 million in its fourth quarter.
The Huntsville, Alabama-based company said it had a loss of 18 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 12 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The networking equipment maker posted revenue of $140.1 million in the period.
For the year, the company reported a loss of $19.3 million, or 40 cents per share, swinging to a loss in the period. Revenue was reported as $529.3 million.
Adtran shares have climbed 14 percent since the beginning of the year. The stock has dropped 27 percent in the last 12 months.