ADTRAN, Inc. Announces Third Quarter Preliminary Revenue and Earnings Estimate.HUNTSVILLE, Ala. -- 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 ) announced preliminary revenue and earnings estimates for the third quarter ending September 30, 2004. Based upon information currently available, revenue for the quarter is expected to be approximately $115 million. Earnings are expected to range from $.23 to $.24 per share, assuming dilution. Weighted average diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. shares outstanding for the quarter are expected to be approximately 80.4 million. ADTRAN Chairman and Chief Executive Officer Mark Smith stated, "Revenues for the quarter were not up to our expectations due to unanticipated light bookings during the latter half of September. The weakness centered around integrated access devices An IAD is a customer premises device that provides access to wide area networks and the Internet. Specifically, it aggregates multiple channels of information including voice and data across a single shared access link to a carrier or service provider PoP (Point of Presence). and DSLAMs. Customers for remote terminal and outside plant DSLAMs were waiting for availability of our new, higher density ADSL See DSL. ADSL - Asymmetric Digital Subscriber Line 2+ products. Our ADSL2+ products began shipping in volume the last week of the quarter." The Company will release its financial results for the third quarter 2004 on Tuesday, October 12, 2004. The Company will conduct a conference call at 9:30 a.m. Central Time. Guidance for the fourth quarter 2004 will be issued during this conference call. In addition, ADTRAN will webcast this conference call live through the StreetEvents.com service. 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 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, 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 one of the world's most successful network access equipment suppliers, with a 16-year history of profitability and a portfolio of more than 1,300 solutions for use in the last mile of today's 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 by both carriers and enterprises, ADTRAN solutions enable voice, data, video, and Internet communications across copper, fiber, and wireless network infrastructures. ADTRAN solutions are currently in use by every major domestic service provider and many international ones, as well as by thousands of public, private and government organizations worldwide. For more information, contact the company at 800 9ADTRAN (800 923-8726) or via email at info@adtran.com. On the web, visit www.adtran.com. 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, 2003. 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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