ITEXPO gold sponsor and TMC Global Online Community customer Adtran just announced blowout earnings – fourth quarter profit doubled and sales grew 33%. Net income was $35.96 million or $0.56 per share. Broadband growth was 75% over the previous year led by sales of the Total Access 5000 platform while internetworking grew 37% and optical grew 24%.
Some of this growth was likely due to the Government’s Broadband Stimulus rollout but the declaration of a 9 cent per share dividend shows there is strong confidence that the company sees a bright future even as the program has ended.
Moreover, this news comes on the heels of blowout earnings from both Apple and IBM and this tells us that tech continues to be a very bright beacon of light for the global economy. As always, I look forward to watching the tremendous opportunities in tech and telecom translate into large amounts of real business getting done at ITEXPO, Feb 2-4 in Miami, FL.