U.S. Markets closed

Adtran misses 3Q revenue forecasts

HUNTSVILLE, Ala. (AP) _ Adtran Inc. (ADTN) on Tuesday reported third-quarter profit of $15.9 million.

On a per-share basis, the Huntsville, Alabama-based company said it had profit of 33 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 37 cents per share.

The networking equipment maker posted revenue of $185.1 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $185.4 million.

Adtran shares have climbed almost 7 percent since the beginning of the year. The stock has increased 32 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADTN at https://www.zacks.com/ap/ADTN