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Stock impact report

ADTRAN, Inc. Announces Preliminary Third Quarter 2019 Revenue and Earnings Estimates

ADTRAN Holdings, Inc. (ADTN) 
Last adtran holdings, inc. earnings: 2/5 08:05 pm Check Earnings Report
Company Research Source: Business Wire
HUNTSVILLE, Ala.--(BUSINESS WIRE)--ADTRAN, Inc. (NASDAQ: ADTN) (“ADTRAN” or the “Company”) announced today preliminary estimates of certain financial results for the third quarter ended September 30, 2019. Based upon preliminary information, revenue for the quarter is expected to be approximately $114 million. Earnings per share for the quarter, assuming dilution, is expected to be a loss of approximately $0.96. Non-GAAP earnings per share for the quarter, assuming dilution, is expected to be a loss of approximately $0.06. Earnings per share is expected to be affected by a one-time, non-cash, valuation allowance of approximately $37 million, that will be recorded to income tax expense in the Company’s consolidated income statement to reduce the carrying value of the Company’s deferred tax assets.ADTRAN Chief Executive Officer Tom Stanton stated, “Our revenue this quarter has been significantly impacted by a pause in shipments to a Tier 1 customer in Latin America and the continued Show less Read more
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