Broadband access revenue grew 42% over first quarter 2010
ADTRAN, a provider of networking and communications equipment, has posted sales of $166m for the first quarter of 2011, compared to revenue of $127.1m in Q1 FY10.
For the quarter ended 31 March 2011, the company reported an operating income of $46m, an increase of 80% compared to $25.3m of first quarter fiscal 2010.
ADTRAN posted gross profit of $99m compared to $75.3m in the same quarter last fiscal year.
The company’s net income was $34.3m or $0.52 diluted earnings per share (EPS) in the first quarter of 2011, compared to net income of $18.2m or $0.29 diluted EPS in the same quarter last year.
ADTRAN chief executive officer Tom Stanton said for the quarter, the companies combined growth areas grew 51% over the previous year, allowing the company to achieve fourth consecutive quarterly revenue record.
"Moreover, each of the individual segments within this category achieved new records – Broadband Access saw revenue growth of 42% over first quarter 2010, led by the continued success of our Total Access 5000 platform," Stanton said.
"Our Internetworking category grew 48%, fueled by channel expansion and growing acceptance of new applications; Optical Access grew an impressive 86%, driven by the increasing demand for mobile data."