ADTRAN Inc. (ADTN - Free Report) reported third-quarter 2017 results with its bottom line surpassing the Zacks Consensus Estimate, while the top line marginally lagging estimates.
The company’s earnings (excluding 4 cents from non-recurring items) came in at 37 cents per share, conveniently beating the Zacks Consensus Estimate of 27 cents. Earnings soared 42.3% year over year. Total revenue of $185.1 million climbed 9.6% year over year. The top line however, marginally missed the consensus mark of $185.4 million. Product sales increased 6.7% while Service sales rallied 21.5% on a year-over-year basis.
Quarterly gross margin came in at 46.7% compared with 44.9% in the prior-year quarter. Operating income in the reported quarter totaled $18.32 million compared with $10.13 million in the year-ago quarter.
At the end of the third quarter, ADTRAN generated $22.03 million of cash from operations compared with $27.83 million a year ago. ADTRAN exited third-quarter 2017 with cash and cash equivalents of $128.25 million compared with $66.29 million in the year-ago period.
Dividend
The company declared a cash dividend of 9 cents per share in the third quarter, to be paid on Nov 15 to shareholders of record as of Nov 1.
Zacks Rank & Other Key Picks
ADTRAN sports a Zacks Rank #1 (Strong Buy). Other stocks worth considering in the broader Computer and Technology sector are Apple Inc. (AAPL - Free Report) , Adobe Systems Incorporated (ADBE - Free Report) and Analog Devices, Inc. (ADI - Free Report) . While Adobe Systems sports a Zacks Rank of 1, Apple and Analog Devices carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Apple, Adobe Systems and Analog Devices have surged 34.7%, 66.8% and 22.3% respectively, on a year-to-date basis.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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ADTRAN Inc. (ADTN - Free Report) reported third-quarter 2017 results with its bottom line surpassing the Zacks Consensus Estimate, while the top line marginally lagging estimates.
The company’s earnings (excluding 4 cents from non-recurring items) came in at 37 cents per share, conveniently beating the Zacks Consensus Estimate of 27 cents. Earnings soared 42.3% year over year. Total revenue of $185.1 million climbed 9.6% year over year. The top line however, marginally missed the consensus mark of $185.4 million. Product sales increased 6.7% while Service sales rallied 21.5% on a year-over-year basis.
Quarterly gross margin came in at 46.7% compared with 44.9% in the prior-year quarter. Operating income in the reported quarter totaled $18.32 million compared with $10.13 million in the year-ago quarter.
At the end of the third quarter, ADTRAN generated $22.03 million of cash from operations compared with $27.83 million a year ago. ADTRAN exited third-quarter 2017 with cash and cash equivalents of $128.25 million compared with $66.29 million in the year-ago period.
Dividend
The company declared a cash dividend of 9 cents per share in the third quarter, to be paid on Nov 15 to shareholders of record as of Nov 1.
Zacks Rank & Other Key Picks
ADTRAN sports a Zacks Rank #1 (Strong Buy). Other stocks worth considering in the broader Computer and Technology sector are Apple Inc. (AAPL - Free Report) , Adobe Systems Incorporated (ADBE - Free Report) and Analog Devices, Inc. (ADI - Free Report) . While Adobe Systems sports a Zacks Rank of 1, Apple and Analog Devices carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Apple, Adobe Systems and Analog Devices have surged 34.7%, 66.8% and 22.3% respectively, on a year-to-date basis.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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