ADTRAN, Inc. Reports Earnings for the Fourth Quarter 2019 and Declares Quarterly Cash Dividend

About this update from Adtran Holdings, Inc.

[{"type":"text","content":" HUNTSVILLE, Ala.--(BUSINESS WIRE)--\nADTRAN, Inc. (NASDAQ:ADTN) (“ADTRAN” or the “Company”) today announced financial results for the fourth quarter 2019. For the quarter, revenue was $115.8 million compared to $140.1 million for the fourth quarter of 2018. Earnings for the fourth quarter of 2019 were a net loss of $12.7 million compared to a net loss of $8.4 million for the fourth quarter of 2018. Earnings per share was a loss of $0.26 per share compared to a loss of $0.18 per share for the fourth quarter of 2018. Non-GAAP earnings were a net loss of $3.2 million compared to a non-GAAP net loss of $5.8 million for the fourth quarter of 2018. Non-GAAP earnings per share was a loss of $0.07 per share compared to a non-GAAP loss of $0.12 per share for the fourth quarter of 2018. Non-GAAP net loss and non-GAAP loss per share exclude stock-based compensation expense, acquisition related amortizations and other expenses, restructuring expenses, amortization of pension actuarial losses, valuation allowance related to our deferred tax assets, asset impairments, gain on bargain purchase of a business and certain other contingencies and the reimbursement from a claim settlement. The reconciliation between GAAP net loss and loss per share to non-GAAP net loss and non-GAAP loss per share is set forth in the table provided below.\n\n\nADTRAN Chairman and Chief Executive Officer Tom Stanton stated, “While the U.S. market remains challenging, we saw a solid performance in our international business. We continue to see activity building around our 10G PON and fiber extension solutions across all geographies we serve, most notably in Europe. We believe we are at the beginning of a significant investment cycle for fiber deployment driven by technology advancements, regulatory influences and vendor disruption.”\n\n\nThe Company also announced that its Board of Directors declared a cash dividend for the fourth quarter of 2019. The quarterly cash dividend is $0.09 per common share to be paid to the Company’s stockholders of record as of the close of business on February 20, 2020. The payment date will be March 5, 2020.\n\n\nThe Company confirmed that it will hold a conference call to discuss its fourth quarter results on Thursday, February 6, 2020, at 9:30 a.m. Central Time. ADTRAN will webcast this conference call. To listen, visit the Investor R...

More updates from Adtran Holdings, Inc.