Adtran Q4 sales sluggish
Digital transmission equipment manufacturer Adtran announced current economic slowdown caused its sales to plummet during the fourth quarter. The company also increased its bad-debt allowance because of difficulties at one of its distributors.
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Adtran said it would earn between 9 cents and 10 cents on $89 million in revenue during the fourth quarter that ended Dec. 31, including a charge of 6 cents related to the problems at one of its telecom distributors. Analysts had predicted the company would report earnings of 16 cents per share.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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