Adtran Incorporated (NASDAQ:ADTN) announced after the bell Tuesday that second quarter profit was off 16 percent. However, this still beat analyst expectations.
The network equipment manufacturer saw earnings of 30 cents per share or approximately $18.8 million. A year prior the company posted profits of $22.4 million, or 24 cents per share.
Revenue dropped 7 percent to $121.5 million down from $131.2 million. Analysts were predicting revenue around $117.9 million.
In morning trading, Adtran stock was at $22.90, up 5.34%.
Another company announcing earnings, Texas Industries (TXI), posted a fourth-quarter loss.
Lower cement sales and one-time charges brought the company into the red for the quarter ended May 31. The company posted a new loss of $42.4 million, or $1.53 per share. A year prior the cement producer posted a profit of $26.1 million, or 94 cents per share.
The results of the most recent quarter includes a goodwill impairment charge of $1.41 per share from its California operations.
Analysts were expecting a loss of 6 cents per share on revenue of $191.3 million. Cement sales for the quarter were off a staggering 84 percent to $79 million.
Texas Industries is currently trading at $33.76, up 5.47%.
And, Worthington Industries (NYSE:WOR) announced a fiscal fourth-quarter loss Wednesday morning.
The metal-processing company recorded a loss of $13.7 million, or 17 cents per share for the quarter ended May 31.
In the same quarter of 2008 Worthington posted a profit of $53.9 million, or 68 cents per share. Analysts were expecting a profit of 3 cents per share on revenue of $477.4 million.
In the recent quarter the company took $12.3 million in pretax write-downs and restructuring charges, adding a 15 cent charge per share.
For the full fiscal year, the company posted a loss of $108.2 million, or $1.37 per share. 2008 saw a profit for the company of $107.1 million, or $1.31 per share.
Worthington Industries is currently trading at $12.81, up 6.57%.
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