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ADTRAN, Inc. Reports Earnings for the First Quarter 2019 and Declares Quarterly Cash Dividend

ADTRAN, Inc. (NASDAQ:ADTN) reported results for the first quarter 2019.
For the quarter, sales were $143.8 million compared to $120.8 million
for the first quarter of 2018. Net income was $0.8 million compared to a
net loss of $10.8 million for the first quarter of 2018. Earnings per
share, assuming dilution, were $0.02 compared to a loss per share of
$0.22 for the first quarter of 2018. Non-GAAP net income was $4.9
million compared to a net loss of $15.8 million for the first quarter of
2018. Non-GAAP earnings per share, assuming dilution, were $0.10
compared to a loss per share of $0.33 for the first quarter of 2018.
Non-GAAP earnings per share exclude stock-based compensation expense,
acquisition related amortizations and other expenses, restructuring
expenses, gain on bargain purchase of a business, and amortization of
pension actuarial losses. The reconciliation between GAAP net income
(loss) and earnings (loss) per share to non-GAAP net income (loss) and
non-GAAP earnings (loss) per share is in the table provided.


ADTRANA Chairman and Chief Executive OfficerA Tom StantonA stated, "We are
pleased with our progress in the first quarter of 2019.A Our revenue was
diverse and well balanced with material contributions across the LATAM,
EMEA, North America, and Pacific Rim regions.A Furthermore, our broad
portfolio of next-generation solutions continues to gain market traction
with a growing number of customers in an expanding range of market
segments.A This progress underscores the companya??s global strategy of
diversification across geographies and markets.a??


The Company also announced that its Board of Directors declared a cash
dividend for the first quarter of 2019. The quarterly cash dividend is
$0.09 per common share to be paid to holders of record at the close of
business on May 2, 2019. The ex-dividend date is May 1, 2019, and the
payment date is May 16, 2019.


The Company confirmed that it will hold a conference call to discuss its
first quarter results Thursday, April 18, 2019, at 9:30 a.m. Central
Time. ADTRAN will webcast this conference call. To listen, simply visit
the Investor Relations site at www.investors.adtran.com
approximately 10 minutes prior to the start of the call and click on the
conference call link provided.
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