ADTRAN (Nasdaq: ADTN) rode a sales wave in Q3. During the quarter, sales increased 27 percent to $162 million up from $128 million in Q3 2009.
Company operating income was up 56 percent to $45 million over $28 million in Q3, while net income increased 49 percent to $32 million for the quarter, compared to $21 million in Q3 09.
Once again, the big contributors to ADTRAN's results were its broadband and internetworking segments. Although ADTRAN is a well known broadband supplier to Tier 1 incumbent service providers such as AT&T and Verizon, it has in recent months been winning a number of contract awards with Tier 2-3 ILECs stemming from the Obama administration's broadband stimulus program.
"Our Broadband Access category led this increase achieving 53 percent growth over the prior year, setting a new record level," said Tom Stanton, ADTRAN's CEO. "This was followed by our Internetworking category which posted 39 percent year over year growth, also achieving a record level."
- see the release
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