Adtran Q2 Results Top View

(RTTNews) - Adtran Inc., (ADTN) reported that its net income for the second quarter of 2021 climbed to $5.09 million or $0.10 per share from $752 thousand or $0.02 per share in the previous year.

Non-GAAP net income for the quarter was $8.1 million or $0.16 per share, compared to $0.04 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.12 per share for the second-quarter. Analysts' estimates typically exclude special items.

Total revenues grew to $143.23 million from $128.72 million in the previous year. Analysts expected revenue of $141.82 million for the quarter.

The company also announced that its board declared a cash dividend for the second quarter of 2021. The quarterly cash dividend of $0.09 per common share is to be paid to the company's stockholders of record as of the close of business on August 19, 2021. The payment date will be September 2, 2021.