I agree, looks like nice breakout pattern....also news about GTE and ISDN deployment is good news for them....ISDN is a good thing! I wish, I was using it now....I keep saying soon.
Commenting on the results, Mark C. Smith, Chairman and CEO of ADTRAN, stated, "The second quarter was a
challenging period for ADTRAN. While we experienced the highest quarterly revenue in the history of our CPE (Customer
Premise Equipment) business, the Telco and OEM sectors continued to exhibit the slowness which characterized the first
quarter. Although results for the second quarter failed to meet our expectations, we are encouraged by the growth in CPE
revenue (which we believe may be an indication of a resumption of more normal activity levels) and by the fact that June saw
the largest total bookings in our history. Our market share is intact, and we expect to share fully in the upside when the
long-term growth in telecommunications resumes."
With respect to product lines, Mr. Smith noted that HDSL/T1 shipments increased 36% from the prior year's second
quarter. DDS/Frame Relay revenues declined by 20% from the second quarter of 1996 while ISDN revenues declined by
30% from the second quarter of 1996. Addressing other matters, Mr. Smith noted that the previously announced
authorization to repurchase shares of ADTRAN common stock remains in effect and stated that a summary of activity
related to that program will be included in the Form 10-Q to be filed for the second quarter.
ADTRAN, Inc. designs, develops and markets a broad range of high-speed digital transmission products utilized by Telcos,
corporate end users, and OEMs to implement digital data service over existing telephone networks. |
