ADTRAN announces additional 5M share repurchase plan ADTRAN announced that its board has authorized the repurchase of an additional 5M shares of the company’s common stock to commence upon completion of the repurchase plan announced May 1, 2013. There are just over 1.2M shares remaining to be repurchased under the May 2013 plan. Upon completion of the current plan, the new plan will be implemented through open market or private purchases from time to time as conditions warrant.
ADTRAN CEO says company is well positioned to take advantage of carrier spending ADTRAN CEO Tom Stanton stated, “Revenue came in as we anticipated in our press release of October 2 with a sequential decrease in our European business and a soft enterprise spending environment. Our domestic carrier business saw a sequential revenue increase. We believe our company is well positioned to take advantage of a re-acceleration of carrier spending in both Europe and the US we expect to begin in 2015.”