ADTRAN Q1 Profit Rises

(RTTNews) - ADTRAN Inc. (ADTN) reported that its net income for the first-quarter of 2017 was $6.7 million compared to $5 million for the first quarter of 2016. Earnings per share were $0.14 compared to $0.10 for the first quarter of 2016. Non-GAAP earnings per share were $0.18 compared to $0.14 for the first quarter of 2016.

Quarterly sales were $170.3 million compared to $142.2 million for the first quarter of 2016.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.12 per share and revenues of $167.44 million. Analysts' estimates typically exclude special items.

The company also announced that its Board of Directors declared a cash dividend for the first quarter of 2017. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on May 4, 2017. The ex-dividend date is May 2, 2017, and the payment date is May 18, 2017.