- ADTRAN (NASDAQ:ADTN) reports revenue for 3Q19 is expected to be ~$114M vs. consensus of $140.34M and diluted EPS is expected to be a loss of ~$0.96.
- Non-GAAP EPS is expected to be a loss of ~$0.06 vs. consensus of $0.03.
- ADTRAN Chief Executive Officer Tom Stanton stated, “Our revenue this quarter has been significantly impacted by a pause in shipments to a Tier 1 customer in Latin America and the continued slowdown in the spending at an international Tier 1 customer. With the exception of these two large customers, revenues generated from the rest of our business grew 20% over the previous quarter. Although we expect our Latin American customer sales to rebound, our current visibility regarding timing is limited. For the international Tier 1 customer, we expect that sales should resume with the new capital cycle in 2020.”
- the company expects Q4 revenue to be flat to slightly down sequentially and non-GAAP operating expenses to be ~10% below Q2 non-GAAP expense rate.
- The Company will hold a conference call to discuss its Q3 results on October 31, 2019, at 9:30 a.m. Central Time.