2023-04-11 06:22:57 ET
- ADTRAN Holdings ( NASDAQ: ADTN ) expects first quarter preliminary revenue in the range of $322M-$326M, lower compared to guidance of $355M-$375M primarily due to customer inventory corrections which impacted subscriber solutions product line and supply constraints. The Q1 revenue consensus is $364.11M.
- The preliminary GAAP operating margin is expected to be between -14% and -17%, while non-GAAP operating margin is expected to be between -1% and -2.5%.
- The Company’s Chief Executive Officer, Tom Stanton, stated, “Growing customer concerns over inventory stocking levels affected our first quarter Subscriber Solutions category. We believe that this over-supply condition in CPE products will continue into the second quarter. Revenue for our Access and Optical Networking products grew sequentially.”
- The company will release Q1 results as planned on May 8, 2023.
- ADTN -11.3% premarket to $13.39
- Source: Press Release
For further details see:
ADTRAN Holdings craters 11% on guiding preliminary numbers below guidance