ADTRAN Q3 Results Top Estimates

(RTTNews) - ADTRAN Inc. (ADTN) reported that its net income for the third quarter of 2020 was $5.48 million or $0.11 per share, compared to a loss of $46.12 million or $0.96 per share in the prior year.

Non-GAAP net income was $7.93 million or $0.16 per share, compared to a loss of $2.78 million or $0.06 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly sales were $133.14 million, up from $114.09 million in the previous year. Analysts expected revenue of $132.86 million for the quarter.

The company declared a cash dividend of $0.09 per share for the third quarter of 2020. The dividend is to be paid to the company's stockholders of record as of the close of business on November 17, 2020. The payment date will be December 1, 2020.