HUNTSVILLE, Ala. (AP) 鈥� HUNTSVILLE, Ala. (AP) 鈥� ADTRAN Holdings, Inc. (ADTN) on Monday reported a loss of $1.3 million in its first quarter.
On a per-share basis, the Huntsville, Alabama-based company said it had a loss of 1 cent. Earnings, adjusted for one-time gains and costs, were 14 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The networking equipment maker posted revenue of $286.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $285.5 million.
For the current quarter ending in June, ADTRAN Holdings said it expects revenue in the range of $283 million to $303 million.
ADTRAN Holdings shares have more than doubled since the beginning of the year. The stock has more than doubled in the last 12 months.
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