ADTRAN, Inc. Announces Preliminary Third Quarter Operating Results and Revised Guidance for the Fourth Quarter.Business Editors/High-Tech Writers HUNTSVILLE, Ala.--(BUSINESS WIRE)--Oct. 2, 2003 ADTRAN, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADTN ADTN Administrative Data Transmission Network ADTN Administrative Data Telecommunications Network ) today announced preliminary operating results for the third quarter ending September 30, 2003. Revenue for the quarter is expected to be approximately $106 million. Earnings per share for the quarter, assuming dilution, are expected to range from $0.41 to $0.42. Weighted average diluted shares outstanding for the quarter are expected to be approximately 40.7 million. ADTRAN Chairman and Chief Executive Officer Mark Smith stated, "Our preliminary results for the quarter reflect revenue increases arising from sharply higher shipments of DSLAMS. We also experienced a significant sequential revenue increase from our Enterprise Networks Division, reflecting what we believe to be an improving business climate accompanied by market share gains in end-user markets. Our market share gains in HDSL See DSL. HDSL - High bit-rate Digital Subscriber Line also continued." The Company also issued revised guidance for the fourth quarter 2003. Revenues are estimated to be in a range between $104 million and $107 million, and earnings per share, assuming dilution, are estimated to be in a range of $0.40 to $0.42. The Company also announced that it will release its financial results for the third quarter 2003 on Tuesday, October 14, 2003. The third quarter conference call will be held Tuesday, October 14 at 9:30 a.m. Central Time. This conference call will be webcast live through StreetEvents.com. To listen, 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. An online replay of the conference call will be available for seven days at http://streetevents.com. In addition, an online replay of the conference call, as well as the text of the Company's earnings release, will be available on the Investor Relations site at http://www.adtran.com for at least 12 months following the call. 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". , Inter-exchange Carriers (communications) inter-exchange carrier - (IXC) A company allowed to handle long-distance calls following the break-up of the Bell system in the US by anti-trust regulators. , ISPs, Competitive Service Providers, 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, 2002. 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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