ADTRAN, Inc. (ADTN), an Alabama-based networking and communications equipment provider, reported that its fourth quarter net income declined to $3.96 million or $0.06 per share from $31.16 million or $0.48 per share last year. Non-GAAP earnings per share were $0.11, down from $0.54 a year earlier.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter. Analyst estimates typically exclude special items.
Quarterly sales down to $139.76 million from $175.29 million last year. Sales for the quarter fared below analysts’ expectations of $139.79 million.
In addition, the company said its board has declared a quarterly dividend of $0.09 per common share, which is payable on February 21, 2013 to shareholders on record of February 7, 2013.
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by RTT Staff Writer
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