ADTRAN reports increased net income for Q3 2013 and announces quarterly dividend of USD0.09 per share
Oct 09, 2013 (M2 EQUITYBITES via COMTEX) --
ADTRAN Inc (NASDAQ:ADTN), a provider of networking and communications equipment, on Tuesday reported a net income of USD16.2m or USD0.28 diluted earnings per share for the third quarter of 2013, up from the net income of USD9.3m or USD0.15 diluted earnings per share for same quarter of 2012.
The company's net sales for the quarter were USD177.4m, also higher compared to the net sales of USD162.1m in the third quarter of 2012.
Chief executive officer Tom Stanton commented: "The performance for the quarter was driven by lower operating expenses combined with a strong performance by both our Carrier and Enterprise businesses. The results were positively impacted by our international business which achieved a record revenue level."
Additionally, the company's board of directors approved a cash dividend of USD0.09 per share for the third quarter of 2013. This will be paid to shareholders of record at the close of business on 24 October 2013, on 7 November 2013 and the ex-dividend date is 22 October 2013, the company said.
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