ADTRAN Holdings, Inc. - ADTN STOCK NEWS

Adtran, a leader in open networking solutions, announced that Greece's largest power utility, Public Power Corporation (PPC), is launching a pilot fiber wholesale network using Adtran's disaggregated fiber access platform. The initial deployment in Peristeri aims to deliver gigabit services and connect over three million homes within four years. PPC, which serves around six million customers, seeks to modernize its infrastructure while enhancing broadband access. Adtran's technology promises improved efficiency and cost savings, aligning with PPC's sustainability goals.

ADTRAN Holdings, Inc. reported financial results for Q3 2022, with revenue hitting $340.7 million. The net loss attributable to the Company was $41.9 million, translating to a loss per share of $0.57. Non-GAAP net income attributable to the Company was $7.7 million, with a non-GAAP EPS of $0.11. The quarter also marked the completion of ADTRAN's business combination with ADVA, enhancing their market position in optical networking. Additionally, a quarterly cash dividend of $0.09 per common share was declared, with payment scheduled for December 6, 2022.

ADTRAN Holdings, Inc. (NASDAQ: ADTN) will present at the 3rd Annual Needham Virtual Tech Week on November 15, 2022, at 10:15 am ET. The company aims to provide an update on its business and discuss industry trends affecting the market. Participants can listen to the live webcast here. ADTRAN Holdings is a leading provider of open networking solutions and is the largest shareholder of ADVA, a telecommunications vendor in Europe. Forward-looking statements may be included in the presentation.

ADTRAN Holdings, Inc. (NASDAQ: ADTN) reported preliminary financial results for Q3 2022, with revenues at $340.7 million and a gross margin of 28.8%. The non-GAAP gross margin stood at 38.1%, while the operating expenses were approximately $142.1 million. The company faced a GAAP operating loss of $61.1 million, contrasted by a non-GAAP operating income of $20.9 million. CEO Tom Stanton highlighted strong demand post the business combination with ADVA Optical Networking, with expectations to exceed market revenue and adjusted income estimates.

ADTRAN Holdings, Inc. (NASDAQ: ADTN) will release its financial results for Q3 2022 on November 7, 2022, after market close. A conference call will follow on November 8, 2022, at 9:30 a.m. Central Time to discuss the results. Investors can access the webcast on the company's Investor Relations site approximately 10 minutes before the call. An online replay will be available shortly after and for at least 12 months. ADTRAN is recognized for its disaggregated networking solutions and holds a significant stake in ADVA.

Adtran announces its partnership with Volt Broadband, a subsidiary of Northeast Louisiana Power Cooperative, to provide fiber broadband services in rural Louisiana. This initiative aims to close the digital divide, empowering local communities with internet access. With 2,000 fiber miles and the ability to offer speeds up to a Gigabit for residential customers and multi-gigabit for businesses, this project will benefit approximately 11,500 homes. The deployment is supported by the Rural Digital Opportunity Fund, highlighting its significance in enhancing connectivity for underserved areas.

Adtran announces a partnership with AW Broadband to deploy a 100% fiber-based network in rural Texas, enhancing underserved communities and attracting economic growth. The project utilizes Adtran's end-to-end fiber broadband solution, featuring the 10G fiber access platform and Mosaic One cloud software. This initiative is funded through the Rural Digital Opportunity Fund, enabling scalable and flexible solutions for high-speed internet access. The deployment is expected to stimulate local economies by supporting businesses and improving connectivity for residents.

Adtran has entered an exclusive partnership with Fiber Homes, providing its customers access to a discounted fiber internet marketing platform. This collaboration will integrate Fiber Homes into Adtran's Mosaic One cloud software, enhancing prospecting capabilities for service providers. The integration will allow better identification of revenue opportunities and bolster local partnerships with real estate entities. Adtran positions itself as the only fiber broadband solutions provider with this exclusive collaboration, which aims to improve competitiveness among its customer base.

Adtran has been selected by Lothian Broadband to design and build a new core network for a multi-gigabit-capable fibre broadband solution, targeting underserved regions in Scotland. This partnership aims to extend broadband access to over 70,000 premises using Adtran’s XGS-PON technology. The project will enhance connectivity for voice, video, and internet services, ensuring a 99% premise yield for reliable Gigabit broadband. The move signifies a shift from fixed wireless access to a scalable fibre network, enabling economic opportunities in local communities.