ADTRAN (Nasdaq: ADTN) made a comeback in Q1 2013, reporting gains in both the broadband access and optical segments of its carrier product division.
The company reported $72.2 million and $8.8 million in revenues, for broadband access and optical access, respectively. In addition, internetworking revenues, which include its NetVanta and Multi-service Access Gateways, reached $36.9 million.
As expected, the vendor reported that legacy product revenues, including its HDSL business, declined slightly to $24.9 million sequentially.
From a regional perspective, U.S. sales were $108 million and international were $34.9 million.
During the quarter, overall sales were $143 million, up from $134 million in Q1 2012. However, net income declined year-over-year to $7.8 million from $12.9 million in Q1 2012.
"Operating results for the quarter came in as expected with our domestic carrier business continuing to solidify and our overall revenue positively impacted by sequential growth internationally and in our Enterprise business," said Tom Stanton, CEO of ADTRAN, in the earnings release.
Shares of ADTRAN were listed at $22.04, up $2.33, or 11.80 percent, in Wednesday morning trading on the Nasdaq stock exchange.
- see the earnings release
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