Adtran Slips To Loss In Q3

(RTTNews) - Adtran Inc. (ADTN) reported that its net loss for the third quarter of 2021 was $10.43 million or $0.21 per share compared to net income of $5.48 million or $0.11 per share in the previous year.

Non-GAAP loss per share was $0.02 compared to net income of $0.16 per share last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share. Analysts' estimates typically exclude special items.

Quarterly revenue grew to $138.08 million from $133.14 million in the previous year. Analysts expected revenue of $138.06 million for the quarter.

The company also said that its board declared a cash dividend for the third quarter of 2021. The quarterly cash dividend of $0.09 per share is to be paid to stockholders of record as of the close of business on November 16, 2021. The payment date will be November 30, 2021.