ADTRAN Q4 revenue jumps to $159M on strong broadband, optical networking gains
ADTRAN (Nasdaq: ADTN) reported in the fourth quarter 2013 that an increase in broadband access and optical product sales contributed to $159 million in revenue in the quarter, up year-over-year from $139.7 million in Q4 2012.
The company's operating revenue was $10.6 million, an increase over the $2.87 million it reported in the same period a year ago. Likewise, its net income rose year-over-year to $11.8 million from $3.96 million.
The vendor said its three core product areas--Broadband Access, Internetworking and Optical--were up collectively 25 percent year-over-year to $143 million. Broadband Access led the group with $88.5 million in revenues, while Optical and Internetworking reported $14.1 and $40.2 million in revenues, respectively.
On a regional basis, the United States was the clear leader with $107.1 million in revenue for ADTRAN, but international market revenues climbed to $51.9 million.
Tom Stanton, CEO of ADTRAN, said in the earnings release that "strong performances in EMEA and Latin America helped drive our international revenue up 78 percent."
However, ADTRAN did report losses, particularly in its HDSL and Loop Access product lines, which declined year-over-year to $8.5 million and $9.1 million from $15.6 million and $16.7 million, respectively. Declines in these segments reflect the telecom industry's ongoing migration away from TDM-based access to IP- and Ethernet-based services.
Shares of ADTRAN were up slightly in trading after the news on the Nasdaq stock exchange.
- see the earnings release
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