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To: Johnny Canuck who wrote (37631)	7/15/2002 11:34:24 AM
From: Johnny Canuck	Read Replies (3) \| Respond to of 68128

10:56AM ADTRAN revises Q3 guidance below consensus (ADTN) 18.14 +0.33: -- Update -- We are hearing that ADTN during their conference call is revising their Q3 guidance to $0.12-$0.15 and $83-$87 mln in revs, below the Multex consensus of $0.16 and $91.4 mln; co attributes lowered guidance to a flat IT environment, and sees flat gross margins and operating expenses; in addition, co has reduced inventory and repurchased 374k shares for a total of 589k shares in their 2 mln share buyback program.