ADTRAN's Mark C. Smith Named CEO of the Year; ADTRAN Recognized as an Engineering Empire with a Small-Company Feel.Business Editors HUNTSVILLE, Ala.--(BUSINESS WIRE)--March 27, 2000 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 the selection of its Chairman of the Board and Chief Executive Officer Mark C. Smith as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Year by The Birmingham News. Each year since 1994 The Birmingham News has conducted the award by ranking the top 5 CEOs of Alabama's public companies. Mark Smith leads a corporation whose stock has risen more than 260 percent in the past year and whose sales have tripled since a 1994 initial public offering. At the same time revenues were increasing, operating expenses remained relatively stable due to a diligent, company wide effort to hold costs. As a result, operating margins continually increased, allowing ADTRAN to achieve an overall operating margin of greater than 20 percent. In accepting the award, Smith said, "I'm extremely pleased and honored to receive the CEO of the Year Award. On behalf of the entire ADTRAN team, I want to thank The Birmingham News and the members of the selection committee. This honor acknowledges some very hard work by employees of ADTRAN over the past 15 years." "Our success in the emerging markets can be attributed to having the right products and technologies that provide the right customer solutions, the right service, and of course, the right price. By supplying high-quality, world-class products to our carrier, enterprise, CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) and international customers, we make an important contribution to the functionality and reliability of today's Internet and wide area communications systems." "The exceptional employees of ADTRAN have laid a strong foundation for continued growth in the markets where we operate. Together, we've created a dynamic and powerful competitor for the emerging markets of the future." About ADTRAN Established in 1985, ADTRAN, Inc. is a leading provider of deployment and access solutions for carrier and enterprise networks. ADTRAN technologies support more than two million local loops worldwide. More than 500 ADTRAN products support all major digital technologies, including T3, T1, E1, Frame Relay, DDS (1) (Digital Data Storage) See DAT. (2) (Data Dictionary System) See QuickBuild and OpenDDS. (3) (Dataphone Digital S , HDSL See DSL. HDSL - High bit-rate Digital Subscriber Line , HDSL2 xDSL, ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. , and wireless transport. According to Dataquest and IDC, ADTRAN holds revenue-leading positions in the Integrated Access, Frame Relay/DDS, ISDN Extension and HDSL/T1/E1 markets. ADTRAN customers include the Regional Bell Operating Companies, interexchange carriers, GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) , domestic independent service providers, corporate end users, international customers and original equipment manufacturers. For more information, contact the company at 800 9ADTRAN (800/923-8726) or via e-mail at info@adtran.com. On the web, visit www.adtran.com. |
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