Adtran shares drop on downbeat prelim Q1 revenue

Adtran Holdings

11/04/2023 10:31

** Shares of networking and communications provider, Adtran Holdings  ADTN.O  fall 10.65% to
$13.5 in premarket trading following prelim Q1 results
    ** For Q1, co sees rev between $322 mln and $326 mln; below its previous outlook of $355 mln
to $375 mln
    ** Analysts expect $364.1 mln in Q1 rev- Refinitiv IBES data
    ** Customer inventory corrections impacted Subscriber Solutions product line, supply
constraints prevented us from meeting customer demand across all categories- co says
    ** Co sees resulting Q1 prelim GAAP operating margin between -14% and -17%
    ** Up to last close, stock had fallen 19.6% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))