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ADTN

Adtran

$15.52

-0.32 (-2.02%)

10:43
07/18/19
07/18
10:43
07/18/19
10:43

Adtran reports preliminary Q2 adjusted EPS 14c, consensus 8c

Reports preliminary Q2 revenue $156.4M, consensus $156.11M. The company said in a statement that its reported results for the quarter and year to date ended June 30 are preliminary due to the company's ongoing assessment of the reasonableness of its current and previously reported excess and obsolete inventory reserves. "The Company is working diligently to finalize its assessment and evaluate the materiality of adjustments to the reserve, if any, and determine the appropriate method of correction to its current and previously reported financial results, as necessary. In addition to assessing the reasonableness of its E&O reserves, the Company is also assessing inventory related internal control deficiencies which may result in the identification of material weaknesses. If material changes to our preliminary results do occur, an updated press release will be issued." CEO Tom Stanton commented: "We are pleased with our continued progress and solid performance for the second quarter of 2019. Revenue for the quarter grew 22% year-over-year and 9% over the previous quarter. Our execution continues to be strong across North America, LATAM, EMEA, and the Pacific Rim with diverse and well-balanced material revenue contributions from each of these regions. This sustained progress underscores the Company's global impact as we help our customers build their best networks."

  • 18

    Jul

ADTN Adtran
$15.52

-0.32 (-2.02%)

01/29/19
NEED
01/29/19
DOWNGRADE
NEED
Hold
Adtran downgraded to Hold from Buy at Needham
01/29/19
01/29/19
DOWNGRADE

Hold
Adtran downgraded to Hold at Needham on margin pressure
As previously reported, Needham analyst Richard Valera downgraded Adtran to Hold from Buy, saying that while the company posted solid Q4 results, the quarter was aided "by the re- emergence of Telmex" and warns that its shift toward international business will results in "structurally lower margins" and limited earnings power. The analyst further notes that he had previously anticipated AT&T (T) and Verizon (VZ) deals as "potentially significant" North America revenue opportunities, but now sees "little confidence either of these programs will ramp substantially over the near to medium term." Valera adds that the recent bounce in Adtran stock has taken its price to within 10% of his prior target, justifying a neutral stance.
04/22/19
MKMP
04/22/19
NO CHANGE
Target $20
MKMP
Buy
Adtran price target raised to $20 from $18 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Adtran to $20 and kept his Buy rating after its "upbeat" Q1 results with "strong margins", earnings, and above-consensus revenues. The analyst believes that Adtran has "tremendous growth opportunities with Cable MSOs" and also points to the company's improved visibility given the "strength of the Broadband Access upgrade cycle" around the world.
04/22/19
COWN
04/22/19
NO CHANGE
Target $17
COWN
Market Perform
Adtran price target raised to $17 from $14 at Cowen
Cowen analyst Paul Silverstein raised his price target on Adtran to $17 from $14 following a second straight quarter of "solid" results and guidance that suggests Adtran has "turned the corner." New projects remain the key growth driver and should help diversify what has long been extremely concentrated revenue, Silverstein says in a research note to investors. He maintains a Market Perform rating based on valuation.

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EE

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