ADTRAN warned its second-quarter revenue and earnings would fall below its own guidance
ADTRAN Holdings warned that its second quarter would miss its own guidance. The Huntsville, Alabama networking equipment maker said so in a Form 8-K exhibit on July 22, and the numbers are preliminary and unaudited.
Revenue will land between $280.0m and $282.0m, below the guidance range of $283.0m to $303.0m. Non-GAAP operating margin came in at 3.5 to 4.0 percent, under the 5.0 to 9.0 percent the company had projected. Non-GAAP diluted earnings are now expected at $0.03 to $0.05 a share, against a consensus the company put at $0.13.
The company attributed the shortfall to two things: the timing of one customer's project, and elevated component and freight costs. It did not say more. Final results are due after the close on August 3.