Broadband gear sales boost fuels Adtran Q1

Equipment vendor Adtran reported earnings for the first quarter of 2008 that were mostly in line with analyst estimates, but also included a revenue increase of 9 percent that was higher than expected. That spike was driven by a surprising 57 percent jump in revenue from sales of broadband access equipment, a category that many people in the industry had expected would be down across the board amid uncertain economic expectations for 2008. It's not yet clear was the good news will be catching. Adtran also announced a quarterly dividend of nine cents per share, and initiated a new 5 million share buyback program.

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