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Technology Stocks : ADTRAN !?!

ADTN 9.550

-3.5%

Jan 23 9:30 AM EST

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To: Leo C. Bouchard who wrote (415)	7/8/1997 9:22:00 AM
From: linda	of 766

This came off of briefing.com this am. ADTRAN INC. (ADTN) 25 11/16 CLOSED. Shares of provider of high-speed digital transmission products utilized by telephone companies are expected to be on the hot seat this morning after the company reported 2nd qtr results that were less than projected. The company reported that it earned $0.18 a share, seven cents below the First Call mean estimate, and well below year-ago net of $0.26 a share. Sales in the latest period fell 6.6% to $59.125 million from year-ago level of $63.305 million and, sequentially, they also declined by 4.4% as the company experienced a more challenging quarter due to slowness in the telephone and original equipment manufacturer sectors. The stock has been on a steady decline since reaching its 52 week high of $75 1/4 about twelve months ago. Since then, much of the momentum this stock had behind its rise has evaporated as sales has stagnated and lead to earnings growth disappointments. Currently, the stock is trading more than 61% below its price level at the beginning of the year. Today, the stock could easily test new lows, breaking past the $20 7/8 level as companies that have not met earnings expectations have been severely punished. Chart

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