Yahoo Finance ADTRAN (ADTN) Tops Earnings, Revenues Miss Marginally in Q3
ADTRAN Inc. ADTN reported third-quarter 2017 results with its bottom line surpassing the Zacks Consensus Estimate, while the top line marginally lagging estimates.
The company’s earnings (excluding 4 cents from non-recurring items) came in at 37 cents per share, conveniently beating the Zacks Consensus Estimate of 27 cents. Earnings soared 42.3% year over year. Total revenue of $185.1 million climbed 9.6% year over year. The top line however, marginally missed the consensus mark of $185.4 million. Product sales increased 6.7% while Service sales rallied 21.5% on a year-over-year basis.
Quarterly gross margin came in at 46.7% compared with 44.9% in the prior-year quarter. Operating income in the reported quarter totaled $18.32 million compared with $10.13 million in the year-ago quarter.
At the end of the third quarter, ADTRAN generated $22.03 million of cash from operations compared with $27.83 million a year ago. ADTRAN exited third-quarter 2017 with cash and cash equivalents of $128.25 million compared with $66.29 million in the year-ago period.
Dividend
The company declared a cash dividend of 9 cents per share in the third quarter, to be paid on Nov 15 to shareholders of record as of Nov 1.
ADTRAN, Inc. Price, Consensus and EPS Surprise
ADTRAN, Inc. Price, Consensus and EPS Surprise | ADTRAN, Inc. Quote
Zacks Rank & Other Key Picks
ADTRAN sports a Zacks Rank #1 (Strong Buy). Other stocks worth considering in the broader Computer and Technology sector are Apple Inc. AAPL, Adobe Systems Incorporated ADBE and Analog Devices, Inc. ADI. While Adobe Systems sports a Zacks Rank of 1, Apple and Analog Devices carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Apple, Adobe Systems and Analog Devices have surged 34.7%, 66.8% and 22.3% respectively, on a year-to-date basis.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ADTRAN, Inc. (ADTN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
Adobe Systems Incorporated (ADBE) : Free Stock Analysis Report
Analog Devices, Inc. (ADI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
