ADTRAN warns of revenue miss in third quarter
ADTRAN, Inc. (NASDAQ: ADTN) says that it will fall short of revenue and earnings guidance for the third quarter ending September 30, 2012. The company cited macroeconomic concerns and regulatory roadblocks as the causes of the expected poor performance.
During its second quarter earnings call, ADTRAN management signaled flat to slight growth for the third quarter from the $183,998,000 it achieved during the quarter ended June 30. However, management says it now expects revenues for the third quarter to come in at approximately $162 million. GAAP earnings per share for the quarter, assuming dilution, are now expected to range from $0.14 to $0.15. Non-GAAP earnings per share for the quarter will range from $0.18 to $0.19, the company now predicts.
“Our performance this quarter continued to be affected by a challenging spending environment stemming largely from macro-economic and regulatory concerns. The largest impact continues to be in the U.S. carrier market where we saw continuing delays in project rollouts exacerbated by a decrease in legacy product sales,” explained ADTRAN CEO Tom Stanton. “Although timing the resolution to these macro concerns remains challenging, recent bidding activity in Tier 1 and Tier 2 carrier accounts both domestically and abroad leave us very confident about our positioning as these markets rebound.”
For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer’s Guide.