ADTRAN, Inc. Announces Fourth Quarter Preliminary Revenue and Earnings Estimates.Business Editors HUNTSVILLE, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--Jan. 4, 2002 ADTRAN, Inc. (Nasdaq:ADTN ADTN Administrative Data Transmission Network ADTN Administrative Data Telecommunications Network ) announced preliminary revenue and earnings estimates for the fourth quarter ending December 31, 2001. Based upon information currently available, revenue for the quarter is expected to be approximately $89,000,000. Earnings are expected to range from $.09 - $.10 per share, assuming dilution, including an unusual charge of $.06. ADTRAN Chairman and Chief Executive Officer Mark Smith stated, "The economic slowdown continued to affect our sales during the quarter. While we noted increased activity in December, it was not sufficient to meet our earlier revenue projections. Also, due to financial difficulties experienced by one of our telecom distributors, we increased our allowance for bad debt, which impacted earnings per share by $.06 for the year. This unusual charge is included in the above earnings estimate." During the fourth quarter conference call, which will be held Monday, January 14 at 9:30 a.m. Central Standard Time, the company will provide guidance for the first quarter and 2002. This conference call will be webcast live through StreetEvents.com. To participate, simply visit the Investor Relations Investor relations The process by which the corporation communicates with its investors. site at http://www.adtran.com or http://streetevents.com approximately 10 minutes prior to the start of the call and click on the conference call link provided. ADTRAN, Inc. is an established supplier of advanced transmission products that provide users access to today's expansive telecommunications networks A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. . Widely deployed in carrier, enterprise and global networks worldwide, ADTRAN products support all major digital access technologies. ADTRAN equipment is widely deployed by major Incumbent Local Exchange Carriers ILEC, short for incumbent local exchange carrier, is a local telephone company in the United States that was in existence at the time of the break up of AT&T into the Regional Bell Operating Companies (RBOCs) also known as the "Baby Bells". , Interexchange Carriers See IXC. , ISPs, Competitive Local Exchange Carriers, international service providers, public and private enterprises, and original equipment manufacturers. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which reflect management's best judgment based on factors currently known. However, these statements involve risks and uncertainties including the successful development and market acceptance of new products, the degree of competition in the market for such products, the product and channel mix, component costs, manufacturing efficiencies, and other risks detailed in our annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000. Such risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements included in this press release. |
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