Adtran Q1 numbers beat estimates
Network equipment vendor Adtran, which often reports quarterly results ahead of other telecom vendors and has come to be seen as something of an early indicator for the sector, reports its first-quarter earnings this morning. The early word from an Adtran press release is that sales and net income both were down for the quarter, but beat analyst estimates.
The company said sales for Q1 2009 amounted to about $110.3 million, off last year's first quarter mark of $119.8 million. Net income was $15.2 million, compared to $17 million for the first quarter of 2008.
Adtran CEO Tom Stanton added that the company's fiber-to-the-node business in the U.S. was strong during the quarter. The company also announced a dividend for the first quarter of 2009 of $0.09 per common share to be paid on May 14 to shareholders of record at the close of business on April 30, 2009.
- Here's the Adtran press release