ADTRAN's Q2 international sales drive up revenues to $176M
ADTRAN reported that revenues were $176 million, up year-over-year from $162 million in the second quarter of 2013 due to an uptick in broadband and carrier sales, particularly in the international arena.
During the quarter, Carrier Systems and Business Networking both rose sequentially to $129 million and $41 million, up from $99.5 million and $38 million in the first quarter of 2014, respectively. However, legacy Loop Access revenues declined to $5.3 million sequentially from $9.5 million.
Inside the Carrier Systems division, Broadband Access and Internetworking were the two dominant revenue drivers, rising to $108 million and $40 million from $81 million and $37 million in the first quarter of 2014. Meanwhile, Optical also rose to $15.8 million from $12.7 million sequentially.
While the United States is still the dominant geographic region with $97 million in revenues, the international segment was $79 million, up from $54.3 million in the first quarter.
"Our long stated goal of geographic diversification continued to pay dividends in the second quarter as international revenues reached a record $79 million," said Tom Stanton, ADTRAN's CEO, in the earnings release. "This strength drove our Broadband Access category to achieve record revenues, growing 33% over the same period last year."
Company operating revenue also rose to $19.3 million, up from $14.1 million in the same period a year ago. Likewise, net income was $14.4 million compared to $9.9 million for the second quarter of 2013. Earnings per share were 26 cents compared to 17 cents for the second quarter of 2013.
Shares of ADTRAN were listed at $22.45, down 19 cents, in Wednesday morning trading on the NASDAQ stock exchange.
- see the earnings release
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