ADTRAN (Nasdaq: ADTN) reported in the second quarter of 2013 that an increase in broadband access and optical drove up sales to $162.2 million, up sequentially from $143 million in Q1 2012.
Broadband access revenues rose to $81.6 million, while optical access revenues were $15.9 million, up from $72.2 million and $8.8 million in the first quarter, respectively.
The rise in these segments drove up overall Carrier Networks sales to $123.3 million. As seen in previous quarters, ADTRAN's legacy Loop Access sales declined to $11.3 million.
On a regional basis, the company reported that its U.S. operations had $127.5 million in sales and international had $34.7 million.
Despite the strong quarterly gains, on a year-over-year basis, ADTRAN's net income was $9.85 million down from $21.1 million. However, it reported adjusted earnings per share of 21 cents, beating analyst estimates of 16 cents per share. It also surpassed the average revenue estimate of $154.16 million.
"Continuing improvement in our Internetworking and Broadband Access product areas led revenues which exceeded estimates for the quarter," said Tom Stanton, ADTRAN's CEO, in the earnings release. "During the quarter we benefited from market share gains, the geographic expansion we began last year and an improved spending environment."
Shares of ADTRAN were listed at $25.30, up 9 cents, or 0.36 percent, in Wednesday morning trading on the Nasdaq stock exchange.
- see the earnings release
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