ADTRAN (ADTN) - Get ADTRAN, Inc. Report was down 5% after the company posted second-quarter earnings of 12 cents a share, below analysts' estimates of 15 cents and down from 47 cents in the same period last year. Sales totaled $97.2 million compared to sales of $114.5 million for the second quarter of 2000.

The company, which makes products for high-speed data transmission over existing phone lines, said growth and cost-cutting measures succeeded in raising gross margins to 47% from 43% in the first quarter, offsetting the drop in earnings.

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