ADTRAN, Inc. Reports Earnings for the First Quarter of 2020 and Declares Quarterly Cash Dividend

ADTRAN, Inc. (Nasdaq: ADTN) (“ADTRAN” or the “Company”) today announced financial results for the first quarter of 2020. For the quarter, revenue was $114.5 million compared to $143.8 million for the first quarter of 2019. Earnings for the first quarter of 2020 were a net loss of $10.0 million compared to net income of $0.8 million for the first quarter of 2019. Earnings per share was a loss of $0.21 per share compared to earnings of $0.02 per share, assuming dilution, for the first quarter of 2019. Non-GAAP earnings were a net loss of $2.2 million compared to a non-GAAP net income of $4.9 million for the first quarter of 2019. Non-GAAP earnings per share was a loss of $0.05 per share compared to a non-GAAP earnings of $0.10 per share, assuming dilution, for the first quarter of 2019. Non-GAAP net income (loss) and non-GAAP earnings (loss) per share exclude stock-based compensation expense, acquisition related expenses, amortizations and adjustments, restructuring expenses, amortization of pension actuarial losses, valuation allowance related to our deferred tax assets, asset impairments and deferred compensation related adjustments. The reconciliations between GAAP net income (loss) and earnings (loss) per share to non-GAAP net income (loss) and non-GAAP earnings (loss) per share are set forth in the table provided below.... Read more

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