ADTRAN reported record Q4 2010 sales of $165,329,000 for the quarter, up 33% compared to $124,231,000 for the fourth quarter of 2009. Operating income increased 71% to $44,857,000 for the quarter compared to $26,236,000 for the fourth quarter of 2009. Net income increased 93% to $35,960,000 for the quarter, compared to $18,615,000 for the fourth quarter of 2009. Earnings per share, assuming dilution, increased 93% to $0.56 for the quarter, compared to $0.29 for the fourth quarter of 2009.
ADTRAN Chief Executive Officer Tom Stanton stated, “Our fourth quarter results highlight the demand that has been building in our business as quarterly and yearly sales both achieved new record levels. Most notably in the quarter, total sales of our three growth categories increased 50% over the fourth quarter the prior year. This performance included individual records in each of these categories. Broadband Access saw growth of 75% over the fourth quarter the prior year led by expanding deployments of our Total Access 5000 platform and related services revenue. Our Internetworking category grew 37% over the fourth quarter the prior year as we continued to see growth across all of our distribution channels. Optical Access grew 24% over the fourth quarter the prior year, indicative of the strength we saw across all of our mobility products. We believe increasing customer investments are aligned well with our strategic areas of focus and that we are positioned well for long term growth.”http://www.adtran.com
