{"id":3887,"date":"2023-02-21T11:12:29","date_gmt":"2023-02-21T10:12:29","guid":{"rendered":"https:\/\/egoraventures.com\/adtran-holdings-inc-reports-preliminary-earnings-for-the-fourth-quarter-of-2022-and-declares-quarterly-cash-dividend\/"},"modified":"2024-03-14T12:08:31","modified_gmt":"2024-03-14T11:08:31","slug":"adtran-holdings-inc-reports-preliminary-earnings-for-the-fourth-quarter-of-2022-and-declares-quarterly-cash-dividend","status":"publish","type":"post","link":"https:\/\/egoraventures.com\/en\/adtran-holdings-inc-reports-preliminary-earnings-for-the-fourth-quarter-of-2022-and-declares-quarterly-cash-dividend\/","title":{"rendered":"<strong>ADTRAN Holdings, Inc.<\/strong> Reports Preliminary Earnings for the Fourth Quarter of 2022 and Declares Quarterly Cash Dividend"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3887\" class=\"elementor elementor-3887 elementor-3864\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-467ae7b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"467ae7b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0c3723c\" data-id=\"0c3723c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-df7f17c elementor-widget elementor-widget-spacer\" data-id=\"df7f17c\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 13-03-2024 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ec91860 elementor-widget elementor-widget-post-info\" data-id=\"ec91860\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/egoraventures.com\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\"><link rel=\"stylesheet\" href=\"https:\/\/egoraventures.com\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-theme-elements.min.css\">\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-2fff0d2 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>21. February 2023<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-596ad76 elementor-widget elementor-widget-text-editor\" data-id=\"596ad76\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 13-03-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>HUNTSVILLE, Ala.&#8211;(<a href=\"https:\/\/www.businesswire.com\/portal\/site\/home\/\" target=\"_blank\" rel=\"noopener\">BUSINESS WIRE<\/a>)&#8211; ADTRAN Holdings, Inc., (NASDAQ: ADTN and FSE: QH9) (\u201cADTRAN Holdings\u201d or the \u201cCompany\u201d), today announced preliminary and unaudited financial results for the fourth quarter of 2022. All figures in this release are approximate due to the preliminary nature of the announcement. For the quarter, preliminary revenue was $358.3 million. Preliminary net income inclusive of the non-controlling interest for the fourth quarter of 2022 was $35.0 million. Preliminary net income attributable to the Company for the fourth quarter of 2022 was $38.9 million and preliminary diluted earnings per share attributable to the Company was $0.49. Inclusive of non-controlling interests, preliminary non-GAAP net income was $15.7 million. Preliminary non-GAAP net income attributable to the Company was $9.9 million and preliminary non-GAAP diluted earnings per share attributable to the Company was $0.12. Non-GAAP net income and non-GAAP earnings per share exclude acquisition related expenses, amortizations, adjustments (consisting of intangible amortization of backlog, developed technology, customer relationships, and trade names acquired in connection with business combinations and amortization of inventory fair value adjustments), stock-based compensation expense, amortization of pension actuarial losses, deferred compensation adjustments, certain asset impairments, restructuring expenses, changes in valuation allowance related to our deferred tax assets, and the tax effect of these adjustments to net income. The reconciliations between the non-GAAP net income measures presented herein and the respective equivalent GAAP financial measures are set forth in the tables provided below.<\/p><p>ADTRAN Holdings Chairman and Chief Executive Officer Tom Stanton stated, \u201cFourth quarter revenue was in the lower side of our guidance range at $358.3 million, as strength in optical networking solutions helped to offset delays in new product introductions. The supply environment has improved year-over-year, which had a positive effect on our gross margins. We also expect supply bottlenecks to continue to alleviate during 2023. Our strong growth in the EMEA region underlines our increased global presence with greater customer diversity as we move into an unprecedented network upgrade cycle.\u201d<\/p><p>The Company also announced that its Board of Directors declared a cash dividend for the fourth quarter of 2022. The quarterly cash dividend of $0.09 per common share is to be paid to the Company\u2019s stockholders of record as of the close of business on March 7, 2023. The ex-dividend date is March 6, 2023, and the payment date will be March 21, 2023.<\/p><p>The information contained in this press release is preliminary. Final results for the fourth quarter ended December 31, 2022 will be released on March 1, 2023.<\/p><p>The Company confirmed that it will hold a conference call to discuss its preliminary fourth quarter results on Tuesday, February 21, 2023, at 9:30 a.m. Central Time or 4:30 p.m. Central European Time. ADTRAN Holdings will webcast this conference call. To listen, simply visit our Investor Relations site at <a href=\"https:\/\/investors.adtran.com\/overview\/default.aspx\" target=\"_blank\" rel=\"noopener\">investors.adtran.com<\/a> approximately 10 minutes prior to the start of the call, click on the event \u201cADTRAN Holdings Releases 4th Quarter 2022 Financial Results and Earnings Call\u201d, and click on the Webcast link.<\/p><p>An online replay of the Company\u2019s conference call, as well as the text of the Company&#8217;s conference call, will be available on the Investor Relations site approximately 24 hours following the call and will remain available for at least 12 months. For more information, visit <a href=\"https:\/\/investors.adtran.com\/overview\/default.aspx\" target=\"_blank\" rel=\"noopener\">investors.adtran.com<\/a> or email at <a href=\"mailto:investor.relations@adtran.com\">investor.relations@adtran.com<\/a>.<\/p><p><strong>About ADTRAN Holdings, Inc.<\/strong><\/p><p>ADTRAN Holdings, Inc. is the parent company of ADTRAN, Inc., a wholly owned subsidiary and a leading global provider of open, disaggregated networking and communications solutions. ADTRAN Holdings is also the largest shareholder of ADVA, a European headquartered network innovator that empowers operators to deliver the cloud and mobile services that are vital to today\u2019s society.<\/p><p><strong>Cautionary Note Regarding Forward-Looking Statements<\/strong><\/p><p>Statements contained in this press release which are not historical facts, such as those relating to strategy, outlook and financial guidance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can also generally be identified by the use of words such as \u201cbelieve,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201canticipate,\u201d \u201cwill,\u201d \u201cmay,\u201d \u201ccould\u201d and similar expressions. In addition, ADTRAN Holdings, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. All such projections and other forward-looking information speak only as of the date hereof, and ADTRAN Holdings undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise, except to the extent as may be required by law. All such forward-looking statements are necessarily estimates and reflect management\u2019s best judgment based upon current information. Actual events or results may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual events or results to differ materially from those estimated by ADTRAN Holdings include, but are not limited to: (i) risks and uncertainties related to manufacturing and supply chain constraints, including as a result of the continued impact of the SARS-CoV-2 coronavirus\/COVID-19 global pandemic \u037e (ii) risks and uncertainties related to the completed business combination between the Company, ADTRAN and ADVA, including risks related to the ability to successfully integrate the ADTRAN\u2019s and ADVA\u2019s businesses, the disruption of management time from ongoing business operations due to integration efforts following the business combination, and the risk that ADTRAN Holdings may be unable to achieve expected synergies or that it may take longer or be more costly than expected to achieve those synergies\u037e (iii) the risk of fluctuations in revenue due to lengthy sales and approval processes required by major and other service providers for new products\u037e (iv) the risk posed by potential breaches of information systems and cyber-attacks\u037e (v) the risks that ADTRAN may not be able to effectively compete, including through product improvements and development; and (vi) other risks set forth in ADTRAN Holdings\u2019 public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021 and Form 10\u2011Q for the quarterly period ended September 30, 2022, as well as its Form 10\u2011K for the year ended December 31, 2022 to be filed with the SEC.<\/p><p>Additionally, the financial measures presented herein are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end adjustments. Any variation between the Company\u2019s actual results and the preliminary financial information set forth herein may be material.<\/p><p><strong>Explanation of Use of Non-GAAP Financial Measures<\/strong><\/p><p>Set forth in the tables below are reconciliations of gross profit, gross margin, operating expenses, operating loss, other income (expense), net income inclusive of the non-controlling interest, net income attributable to the Company, net loss attributable to the no-controlling interest and earnings (loss) per share &#8211; basic and diluted, attributable to the Company, in each case as reported based on generally accepted accounting principles in the United States (\u201cGAAP\u201d), to non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP other income, non-GAAP net income inclusive of the non-controlling interest, non-GAAP net income attributable to the Company, non-GAAP net income attributable to the non-controlling interest, and non-GAAP earnings per share &#8211; basic and diluted, attributable to the Company, respectively. Such non-GAAP measures exclude acquisition related expenses, amortizations and adjustments (consisting of intangible amortization of backlog, developed technology, customer relationships, and trade names acquired in connection with business combinations and amortization of inventory fair value adjustments), stock-based compensation expense, amortization of pension actuarial losses, deferred compensation adjustments, certain asset impairments, restructuring expenses, changes in valuation allowance related to our deferred tax assets, and the tax effect of these adjustments to net income. These measures are used by management in our ongoing planning and annual budgeting processes. Additionally, we believe the presentation of non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP other income, non-GAAP net income inclusive of the non-controlling interest, non-GAAP net income attributable to the Company, non-GAAP net income attributable to the non-controlling interest, and non-GAAP earnings per share &#8211; basic and diluted, attributable to the Company, when combined with the presentation of the most directly comparable GAAP financial measure, is beneficial to the overall understanding of ongoing operating performance of the Company.<\/p><p>These non-GAAP financial measures are not prepared in accordance with, or an alternative for, GAAP and therefore should not be considered in isolation or as a substitution for analysis of our results as reported under GAAP. Additionally, our calculation of non-GAAP measures may not be comparable to similar measures calculated by other companies.<\/p><p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-3848\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-1.jpg\" alt=\"\" width=\"904\" height=\"874\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-1.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-1-300x290.jpg 300w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-1-768x743.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p><img decoding=\"async\" class=\"alignnone size-full wp-image-3850\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-2.jpg\" alt=\"\" width=\"904\" height=\"708\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-2.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-2-300x235.jpg 300w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-2-768x601.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p><img decoding=\"async\" class=\"alignnone size-full wp-image-3852\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-3.jpg\" alt=\"\" width=\"904\" height=\"1141\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-3.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-3-238x300.jpg 238w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-3-811x1024.jpg 811w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-3-768x969.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3854\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-4.jpg\" alt=\"\" width=\"904\" height=\"479\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-4.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-4-300x159.jpg 300w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-4-768x407.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p>(1) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $31.6 million is included in total cost of revenue, on the condensed consolidated statements of income (loss).<br \/>(2) Includes $1.0 million of cost of revenue expenses incremental stock-based award modification expense related to the business combination on the condensed consolidated statements of income (loss).<br \/>(3) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $25.5 million is included in total cost of revenue, on the condensed consolidated statements of income (loss).<br \/>(4) Includes $1.0 million of cost of revenue expenses incremental stock-based award modification expense related to the business combination on the condensed consolidated statements of income (loss).<br \/>(5) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $57.1 million is included in total cost of revenue, on the condensed consolidated statements of income (loss).<br \/>(6) Includes $2.0 million of cost of revenue expenses incremental stock-based award modification expense related to the business combination on the condensed consolidated statements of income (loss).<\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3856\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-5.jpg\" alt=\"\" width=\"904\" height=\"338\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-5.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-5-300x112.jpg 300w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-5-768x287.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p>(1) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $7.8 million is included in selling, general and administrative expenses and $0.5 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(2) $9.4 million is included in selling, general and administrative expenses and $1.7 million is included in research and development expenses on the condensed consolidated statements of income (loss). Includes $7.3 million in selling, general and administrative expenses and $0.6 million is included in research and development expenses incremental stock-based award modification expense related to the business combination.<br \/>(3) $0.1 is included in selling, general and administrative expenses and $1.5 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(4) $0.2 million is included in selling, general and administrative expenses and ($0.3) million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(5) Includes non-cash change in fair value of equity investments held in the ADTRAN Holdings, Inc. Deferred Compensation Program for Employees, all of which is included in selling, general and administrative expenses on the condensed consolidated statement of income (loss).<br \/>(6) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $14.3 million is included in selling, general and administrative expenses and $0.5 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(7) $9.2 million is included in selling, general and administrative expenses and $1.7 million is included in research and development expenses on the condensed consolidated statements of income (loss). Includes $7.3 million in selling, general and administrative expenses and $0.6 million is included in research and development expenses incremental stock-based award modification expense related to the business combination.<br \/>(8) Less than $0.1 million is included in selling, general and administrative expenses and $0.1 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(9) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $6.0 million is included in selling, general and administrative expenses and $0.5 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(10) $1.3 million is included in selling, general and administrative expenses and $0.6 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(11) Less than $0.1 million is included in selling, general and administrative expenses and less than $0.1 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(12) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $25.6 million is included in selling, general and administrative expenses and $1.9 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(13) $20.8 million is included in selling, general and administrative expenses and $4.6 million is included in research and development expenses on the condensed consolidated statements of income (loss). Includes $14.6 million in selling, general and administrative expenses and $1.2 million is included in research and development expenses incremental stock-based award modification expense related to the business combination.<br \/>(14) $0.1 is included in selling, general and administrative expenses and $1.5 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(15) $0.3 million is included in selling, general and administrative expenses and ($0.2) million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(16) Includes intangible amortization of backlog, inventory fair value adjustments, developed technology, customer relationships, and trade names acquired in connection with business combinations, and certain one-time transaction expenses of which $14.1 million is included in selling, general and administrative expenses and $1.9 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(17) $4.6 million is included in selling, general and administrative expenses and $2.3 million is included in research and development expenses on the condensed consolidated statements of income (loss).<br \/>(18) $0.2 is included in selling, general and administrative expenses and $0.2 million is included in research and development expenses on the condensed consolidated statements of income (loss).<\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3858\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-6.jpg\" alt=\"\" width=\"904\" height=\"326\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-6.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-6-300x108.jpg 300w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-6-768x277.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p>(1) Includes non-cash change in fair value of equity investments held in the ADTRAN Holdings, Inc. Deferred Compensation Program for Employees, all of which is included in selling, general and administrative expenses on the condensed consolidated statement of income (loss).<\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3860\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-7.jpg\" alt=\"\" width=\"904\" height=\"327\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-7.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-7-300x109.jpg 300w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-7-768x278.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p>(1) Includes non-cash change in fair value of equity investments held in the ADTRAN Holdings, Inc. Deferred Compensation Program for Employees.<br \/>(2) Includes amortization of actuarial losses related to the Company&#8217;s pension plan for employees in certain foreign countries.<\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3862\" src=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-8.jpg\" alt=\"\" width=\"904\" height=\"1226\" srcset=\"https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-8.jpg 904w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-8-221x300.jpg 221w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-8-755x1024.jpg 755w, https:\/\/egoraventures.com\/wp-content\/uploads\/2023\/02\/ADTRAN-PM-11-2022-8-768x1042.jpg 768w\" sizes=\"(max-width: 904px) 100vw, 904px\" \/><\/p><p>(1) Includes non-cash change in fair value of equity investments held in deferred compensation plans offered to certain employees.<br \/>(2) Includes amortization of actuarial losses related to the Company&#8217;s pension plan for employees in certain foreign countries.<br \/>(3) Represents the non-controlling interest portion of the Company&#8217;s ownership of ADVA.<\/p><p>\u00a0<\/p><p><strong>Contacts<\/strong><\/p><p>Investor Services\/Assistance:<br \/>Rhonda Lambert\/256-963-7450<br \/><a href=\"mailto:Investor.relations@adtran.com\">Investor.relations@adtran.com<\/a><\/p><p>Source: ADTRAN Holdings, Inc.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88bbffb elementor-widget elementor-widget-button\" data-id=\"88bbffb\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/en\/press\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon elementor-align-icon-right\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"icon icon-arrow-left\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Back<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81512fd elementor-widget elementor-widget-spacer\" data-id=\"81512fd\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>HUNTSVILLE, Ala.&#8211;(BUSINESS WIRE)&#8211; ADTRAN Holdings, Inc., (NASDAQ: ADTN and FSE: QH9) (\u201cADTRAN Holdings\u201d or the \u201cCompany\u201d), today announced preliminary and unaudited financial results for the fourth quarter of 2022. All figures in this release are approximate due to the preliminary nature of the announcement. For the quarter, preliminary revenue was $358.3 million. Preliminary net income [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"_links":{"self":[{"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/posts\/3887"}],"collection":[{"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/comments?post=3887"}],"version-history":[{"count":4,"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/posts\/3887\/revisions"}],"predecessor-version":[{"id":4083,"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/posts\/3887\/revisions\/4083"}],"wp:attachment":[{"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/media?parent=3887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/categories?post=3887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/egoraventures.com\/en\/wp-json\/wp\/v2\/tags?post=3887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}