Huntsville/Martinsried (dpa/lby) - The US parent company of the telecom equipment supplier Adva Optical has returned to profitability thanks to a tax credit. Adtran also benefited from its new subsidiary from Martinsried near Munich. The delivery environment has improved compared to the previous year, said company boss Tom Stanton on Tuesday. The supply bottlenecks are likely to weaken further this year.
For the months of October through December, profit attributable to shareholders was $38.9 million, Adtran said. A year earlier, the company reported a loss of $4.2 million. In 2022 as a whole, Adtran remained in the red despite the tax credit - but the minus was less than in the previous year. Fourth-quarter sales jumped from $154 million to $358 million, driven by the acquisition.
Adva Optical alone increased sales in the final quarter by around a quarter to EUR 195.7 million. This was mainly due to the demand from telecommunications service providers, as the company also announced on Tuesday. The bottom line was just under 3.8 million euros less than in the previous year. Higher purchasing costs and expenses in connection with the merger with Adtran would have burdened the result.
