ADTRAN Inc. (ADTN) reported Loss for its first quarter that increased from last year and beat the Street estimates.
The company's earnings came in at -$324.550 million, or -$4.12 per share. This compares with -$40.083 million, or -$0.51 per share, in last year's first quarter.
Excluding items, ADTRAN Inc. reported adjusted earnings of -$1.669 million or -$0.02 per share for the period.
Analysts on average had expected the company to earn -$0.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 30.2% to $226.173 million from $323.912 million last year.
ADTRAN Inc. earnings at a glance (GAAP) :
-Earnings (Q1): -$324.550 Mln. vs. -$40.083 Mln. last year.
-EPS (Q1): -$4.12 vs. -$0.51 last year.
-Revenue (Q1): $226.173 Mln vs. $323.912 Mln last year.
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