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Adtran tops 3Q net income expectations(Associated Press Via Acquire Media NewsEdge) HUNTSVILLE, Ala. (AP) _ Adtran Inc. (ADTN) on Tuesday reported third-quarter profit of $11.3 million. On a per-share basis, the Huntsville, Alabama-based company said it had net income of 21 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 25 cents per share. The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. The networking equipment maker posted revenue of $162.9 million in the period, falling short of Street forecasts. Analysts expected $168.5 million, according to Zacks. Adtran shares have dropped 30 percent since the beginning of the year. The stock has dropped 24 percent in the last 12 months. This story was generated by Automated Insights using data from Zacks Investment Research. ADTN stock research report from Zacks. Keywords:Adtran,Earnings Report |