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HUNTSVILLE, Ala. - Adtran Inc., which makes communications equipment, said Tuesday third-quarter earnings rose 4 percent as sales of broadband and optical networking equipment pushed sales higher.
| ADTN | 15.43 |  -0.27 |
Net income edged up to $22.4 million, or 35 cents per share, from $21.5 million, or 31 cents per share, in the year-ago period.
Higher sales of broadband equipment helped overall sales rise 11 percent to $137.2 million from $123.8 million last year.
Analysts expected, on average, earnings of 35 cents per share on revenue of $136 million, according to Thomson Reuters.
The company said economic uncertainty affected results in the latter part of the quarter, but that it's primary businesses each posted double-digit sales growth.
Chief Executive Tom Stanton said the company is in a "solid position" despite "uncertainty in the near term."
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