(RTTNews) - ADTRAN Holdings, Inc. (ADTN) reported a narrower first-quarter loss, supported by higher revenue driven by growth in its Network Solutions segment.
Profit before tax was $2.85 million, compared with a loss before tax of $9.35 million last year
Operating income came in at $6.38 million, reversing a loss of $3.97 million in the same period last year.
Net loss attributable to shareholders narrowed to $1.32 million or $0.01 per share from a loss of $11.27 million or $0.14 per share reported in the prior-year period.
Excluding one-time items, the company posted adjusted earnings of $10.96 million or $0.14 per share.
Revenue increased to $286.09 million from $247.74 million last year.
For the second quarter, the company expects revenue to be in a range of $283 million to $303 million.
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