ADTRAN reported Q3 sales of $177,404,000 compared to $162,125,000 for the third quarter of 2012. Net income was $16,205,000 for the quarter compared to $9,272,000 for the third quarter of 2012. Earnings per share, assuming dilution, were $0.28 for the quarter compared to $0.15 for the third quarter of 2012. Non-GAAP earnings per share for the quarter were $0.32 compared to $0.20 for the third quarter of 2012.
ADTRAN Chief Executive Officer Tom Stanton stated, “The performance for the quarter was driven by lower operating expenses combined with a strong performance by both our Carrier and Enterprise businesses. The results were positively impacted by our international business which achieved a record revenue level.”
The Company also announced that its Board of Directors declared a cash dividend for the third quarter of 2013. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on October 24, 2013. The ex-dividend date is October 22, 2013 and the payment date is November 7, 2013.
