Announcing the financial results for the third quarter 2009, networking and communications equipment provider ADTRAN (News - Alert), Inc. experienced a 29 percent growth in its broadband access revenues, as the acceptance of carrier Ethernet and broadband services platforms increased.

 

Overall, ADTRAN reported $128.1 million for the quarter in sales, compared to $137.2 million last year. The net income of the company was $21.6 million for the quarter, which is less compared to $22.4 million for the third quarter 2008.

 

Assuming dilution, ADTRAN’s earnings per share were $0.34 for the quarter, compared to $0.35 for the third quarter 2008. The stock-based compensation expense for the third quarter 2009 reduced diluted earnings per share by $0.02 compared to $0.03 for the third quarter 2008, company officials said.

 

According to Tom Stanton, CEO of ADTRAN, the company has achieved 20 percent year-over-year growth and will be posting another record revenue level. Even its optical access revenues grew by 20 percent as carriers increased investment in wireless bandwidth upgrades.

 

“Internetworking revenues continued to expand as our success in this area continued to reflect the broad-based support we are seeing in our carrier distribution and value added reseller channels,” Stanton said. “Two of these areas set record revenue levels and our growth areas in total achieved a new high.”

 

During the third quarterly announcement for this year, ADTRAN’s Board of Directors declared a cash dividend. This bonus cash of $0.09 per common share will be paid to holders of record at the close of business on Oct. 29.

 

With a portfolio of more than 1,700 solutions, ADTRAN provides solutions that enable voice, data, video, and Internet communications across copper, fiber and wireless network infrastructures.

 

In addition, Technology Marketing Corporation awarded the company’s NetVanta 1534 Power over Ethernet, or “PoE,” switch with 2008 Communications Solutions Product of the Year Award. This PoE switching system addresses the demand for sustainability in the network and also features a unique power conservation functionality, which reduces power consumption as well as offers enhanced security.