HUNTSVILLE, Ala. (AP) _ Adtran Inc. (ADTN) on Wednesday reported second-quarter net income of $752,000.
The Huntsville, Alabama-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 4 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The networking equipment maker posted revenue of $128.7 million in the period.
Adtran shares have increased 30% since the beginning of the year. The stock has risen 19% in the last 12 months.