Quarter 2 earnings were 43% weaker than last quarter due to decreased demand. Earnings fell to $21.1 million or 33 cents a share. Revenue fell .12% to $184 million. Analysts expected earnings of 35 cents a share and revenue of $190 million. ADTN declared a cash dividend of 9 cents a share.
Adtran provides services such as production, design, support and marketing products and solutions for networking communications. Although earnings contracted, certain sectors of the company showed growth. The broadband access sector grew 38% over the year, optical and internet gre 17% and account for 84% of revenues.
David Cornes holds a degree in economics from the University of Montana.