Adtran Fourth Quarter In Line with Reduced Guidance - TheStreet

Adtran

(ADTN) - Get Report

said its fourth-quarter net income was $3.78 million, or 10 cents a share, down from $8.49 million, or 22 cents a share, in the year-ago quarter.

The results were in line with the company's lowered guidance, issued on Jan. 4. Wall Street's consensus estimate was 14 cents a share, according to Thomson Financial/First Call.

Sales for the quarter were $89.09 million, down from $121.76 million in the year-ago period.

Shares of the telecommunications equipment supplier closed at $28.80 Friday on the

Nasdaq

.