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At 2Q16-end, $ADTN had unrestricted cash and marketable securities, net of debt, totaling $263.7MM, after paying $4.4MM in dividends and repurchasing just under 300,000 shares of common stock for $5.6MM. Cash flow from operations was $4.9MM in 2Q16.
$ADTN, a provider of networking equipment, slipped to a net loss in 4Q17, hurt by tax-related charges and a 22% drop in sales due to business slowdown in some key markets. The net loss was $11.2MM or $0.23 per share, compared to profit of $7.56MM or $0.16 per share recorded in 4Q16. On a non-GAAP basis, ADTRAN posted earnings of $0.05 per share.
Networking solutions provider $ADTN has commenced lab testing of innovations in the ‘G.fast standard 212MHz and coordinated dynamic time allocation,’ in association with communications firm Deutsche Telekom. The evaluation of ultra-broadband technologies will allow rapid deployment of ultra-fast broadband services with minimal disruption.
Networking solutions provider $ADTN has signed a supply agreement with nbn to advance high-speed broadband access in Australia. The agreement, which covers software, hardware and services, includes commitments from both companies to support the ongoing nationwide network rollout.
$ADTN reported a rise in 1Q17 earnings driven by increasing momentum in ultra-broadband product sales and continuing strength in services area. Net income rose to $6.65MM or $0.14 per share from $5.01MM or $0.10 per share last year. Sales grew to $170.28MM from $142.2MM. Non-GAAP EPS increased to $0.18 from $0.14.
$ADTN is expanding its ProCloud Subscription Services Suite. The offering now features four solution categories, ProCloud Unified Communications, ProCloud Security, ProCloud Analytics and ProCloud Network Management. This will help $ADTN’s Managed Service Provider partners to better meet customer demand for cloud-based services.
$ADTN said global demand for broadband continued to grow as we bolstered our market positions in the U.S and Europe. The company continues to be encouraged by the positive momentum it is experiencing as service providers seek transformation to grow revenue, reduce costs, and accelerate service delivery and deployment.
$ADTN reported a rise in 4Q16 earnings driven by strong growth in domestic and service businesses and the rebound of its international business. Net income rose to $7.57MM or $0.16 per share from $5.72MM or $0.12 per share last year. Sales grew to $162.99MM from $139.01MM. Non-GAAP EPS increased to $0.21 from $0.16.
$ADTN's services business for 3Q16 grew 63% YoverY and its International business increased 7%. CEO Tom Stanton still believes that the company's ability to help service providers grow revenue, reduce costs, accelerate build-out and transition to software-defined access network is proving to be catalyst for change within the industry.
Networking equipment maker $ADTN reported a rise in 3Q16 earnings driven by a 7% increase in revenue as well as stronger broadband access sales in Europe. Net income rose to $12.42MM or $0.26 per share from $7.07MM or $0.14 per share last year. Sales grew to $168.89MM from $158.08MM. Non-GAAP EPS increased to $0.26 from $0.19.
Networking and communications equipment provider $ADTN unveiled its ProCloud Subscriber Suite of tools to streamline the delivery and management of broadband services for operators. The suite features automated subscriber activation, subscriber analytics and a subscriber portal for better in-home network visibility.
$ADTN said Jacqueline Hourigan Rice, $TGT's EVP and chief risk and compliance officer, has joined its BoD. Rice assumes the seat of retiring board member Roy Nichols. Nichols has served as lead director and most recently as a member of the Audit, Compensation, and Nominating and Corporate Governance committees.
Rich Valera of Needham & Co. asks about Opex trends going into next year. $ADTN said in 2Q16, it undertook some additional development work for some specific customers. $ADTN added some contract-based headcount which will close out at this year-end. Going forward, these expenses will be gone and headcount will not be added.
Michael Genovese of MKM asks about seasonality in revenues. $ADTN said looking at the 3-year seasonality, the 5-year seasonality and the 1-year seasonality, they are all roughly in the same direction. Currently $ADTN sees more activity in 1H of an year than 2H and 2Q and 3Q revenue levels are flattish. Bookings typically decline in 3Q.