- ADTRAN (NASDAQ:ADTN) sees Q3 revenue at $138M vs. the consensus of $148.95M.
- The Company expects a gross margin of 34.5%, Non-GAAP gross margin of 34.6%, an operating loss of $10.1M, and a non-GAAP operating loss of $2.6M.
- The Company’s overall bookings in the third quarter were up 43% y/y with a book-to-bill ratio of 1.43 for the quarter and 1.34 for the nine months ended September 30, 2021.
- "This lower gross margin and decreased profitability, as compared to prior guidance, was attributed to approximately $9 million in quantifiable supply chain constraint-related expenses incurred during the quarter."
- ADTRAN Chairman and CEO, Tom Stanton: “.....Although our revenue growth and profitability in the near-term are impacted by the supply chain issues, our long-term outlook continues to strengthen given the record demand and the supply outlook.”
- Shares of ADTN are up 27% YTD.
- Wall Street is Very Bullish on ADTRAN. The stock has a Quant Rating of Neutral.