Stock Monitor: Optical Cable Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 19, 2018 / Active-Investors.com has just released a free earnings report on ADTRAN, Inc. (NASDAQ: ADTN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ADTN. The Company posted its financial results on January 16, 2018, for the fourth quarter fiscal 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For three months ended December 31, 2017, ADTRAN's total revenues decreased 22.4% to $126.52 million from $162.99 million in Q4 FY16. The Company's total revenue surpassed analysts' expectations of $125.03 million.
For the reported quarter, the Company's gross profit was $58.81 million compared to $70.79 million in Q4 FY16. For the reported quarter, the Company's gross margin increased 310 basis points to 46.5% of revenue from 43.4% of revenue in Q4 FY16.
During Q4 FY17, ADTRAN's selling, general, and administrative (SG&A) expenses decreased 8.9% to $31.39 million from $34.44 million in the same period last year. For the reported quarter, the Company's research and development (R&D) expenses decreased 1.8% to $31.49 million from $32.08 million in Q4 FY16.
For the reported quarter, the Company's operating loss was $4.07 million compared to operating income of $4.27 million in Q4 FY16.
During Q4 FY17, ADTRAN's earnings before tax (EBT) was negative $741,000 compared to positive $6.84 million in the same period last year.
For the reported quarter, ADTRAN's net loss was $11.12 million compared to net income of $7.57 million in Q4 FY16. During Q4 FY17, the Company's diluted EPS was negative $0.23 compared to positive $0.16 in the same period last year. During Q4 FY17, the Company's adjusted diluted EPS decreased 76.2% to $0.05 from $0.21 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of negative $0.04.
ADTRAN's Segment Details
Products - During Q4 FY17, the Products segment's revenue decreased 24.2% to $96.06 million from $126.79 million in the same period last year. For the reported quarter, the segment's gross profit decreased 21.4% to $46.36 million from $59.00 million in Q4 FY16.
Services - During Q4 FY17, the Services segment's revenue decreased 15.8% to $30.46 million from $36.19 million in the same period last year. For the reported quarter, the segment's gross profit increased 5.7% to $12.45 million from $11.78 million in Q4 FY16.
As on December 31, 2017, ADTRAN's cash and cash equivalents increased 8.2% to $86.43 million from $79.90 million on December 31, 2016.
For the reported quarter, the Company's net accounts receivable increased 55.8% to $143.84 million from $92.35 million in Q4 FY16. For the reported quarter, the Company's accounts payable decreased 21.8% to $60.50 million from $77.34 million in Q4 FY16.
For the reported quarter, the Company's net inventory increased 16.6% to $122.54 million from $105.12 million in Q4 FY16. For the reported quarter, the Company's total assets decreased 0.3% to $665.01 million from $667.24 million in Q4 FY16.
During FY17, the Company's net cash provided by operating activities was negative $42.37 million compared to positive $42.00 million in FY16.
On January 16, 2018, the Company's Board of Directors declared a cash dividend of $0.09 per common share, payable on February 14, 2018, to holders of record at the close of business on January 31, 2018.
Stock Performance Snapshot
January 18, 2018 - At Thursday's closing bell, ADTRAN's stock tumbled 11.54%, ending the trading session at $16.67.
Volume traded for the day: 2.07 million shares, which was above the 3-month average volume of 409.66 thousand shares.
After yesterday's close, ADTRAN's market cap was at $800.90 million.
Price to Earnings (P/E) ratio was at 19.06.
The stock has a dividend yield of 2.16%.
The stock is part of the Technology sector, categorized under the Communication Equipment industry. This sector was up 0.2% at the end of the session.
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