ADTRAN reports reduced net income over prior year and dividend of USD0.09 per share for Q1 2012
Apr 11, 2012 (M2 EQUITYBITES via COMTEX) --
A networking and communications equipment company, ADTRAN Inc (NASDAQ:ADTN) reported on Tuesday for the first quarter 2012 a net income of USD13m or USD0.20 diluted earnings per share, sharply declined from the net income of USD34.3m or USD0.52 diluted earnings per share in the same 2011 quarter.
The company's first quarter sales were USD134.7m, also down compared to the sales of USD165.5m in the first quarter of 2011.
Additionally, the company's board of directors approved a common cash dividend of USD0.09 per share for the first quarter of 2012 that will be paid to shareholders of record at the close of business on 26 April 2012, on 10 May 2012 and the ex-dividend date is 24 April 2012.
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