ADTRAN, Inc. Reports Estimated Revenue for Third Quarter 2003.Business Editors/High-Tech Writers HUNTSVILLE, Ala.--(BUSINESS WIRE)--Sept. 3, 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 ) reported the estimate for revenue in the third quarter ending September 30, 2003 has been raised to a range of $98 million to $100 million. Fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of are now estimated to be in a range of $0.34 to $0.36 for the third quarter. ADTRAN Chairman and Chief Executive Officer Mark Smith stated, "Quarter-to-date revenue has been much stronger than anticipated. Sharply higher shipments of DSLAMs and continued market share gains in HDSL See DSL. HDSL - High bit-rate Digital Subscriber Line have provided the increase above an already firm base. Our strategy continues to serve us well in this challenging market environment." ADTRAN, Inc. is an established supplier of advanced transmission products that provide users access to today's expansive telecommunications networks. 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, ISPs, Competitive Service Providers, international service providers, public and private enterprises, and original equipment manufacturers. This press release contains forward-looking statements 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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