| Company Name: | Adtran, Inc. | | Ticker Symbol: | ADTN | | | WWW Address: | www.adtran.com |
| CEO: | Thomas R. Stanton | | No. of Employees: | 1,737 |
| Common Issue Type: | CS | | Business Description: | Adtran,Inc. designs, manufactures and markets solutions and provides services and support for communications networks.
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| | | Industry Information: | TELECOMMUNICATIONS - Communication Equipment [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 22.18 |  0.0 | 21.49 | 22.41 | | 22.20 | 21.63 | - |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 1,314.7 | 59.3 | 1.16 | 0.74 | 0.36 | 33.1 | 1.6 | 31.03 - 15.38 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 22.18 | $ | | PE Ratio - LTM | 33.1 | |
| Market Capitalisation | 1,314.7 | mil |
| Latest Shares Outstanding | 59.3 | mil |
| Earnings pS (EPS) | 0.74 | $ |
| Dividend pS (DPS) | 0.36 | ¢ |
| Dividend Yield | 1.6 | % |
| Dividend Payout Ratio | 49 | % |
| Revenue per Employee | 303,479 | $ |
| Effective Tax Rate | 35.2 | % |
| Float | 28.4 | mil |
| Float as % of Shares Outstanding | 46.3 | % |
| Foreign Sales | 150 | mil |
| Domestic Sales | 470 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 21.00 | % |
| Research & Devlopment (R&D) as % of Revenue | 21.30 | % |
| Gross Profit Margin | 53.2 | % |
| EBITDA Margin | 11.0 | % |
| Pre-Tax Profit Margin | 10.0 | % |
| Assets Turnover | 0.7 | % |
| Return on Assets (ROA) | 4.8 | % |
| Return on Equity (ROE) | 6.3 | % |
| Return on Capital Invested (ROCI) | 5.9 | % |
| Current Ratio | 4.1 | |
| Leverage Ratio (Assets/Equity) | 1.3 | |
| Interest Cover | 27.8 | |
| Total Debt/Equity (Gearing Ratio) | 0.07 | |
| LT Debt/Total Capital | 6.0 | % |
| Working Capital pS | 5.86 | $ |
| Cash pS | 0.99 | $ |
| Book-Value pS | 11.36 | $ |
| Tangible Book-Value pS | 11.10 | $ |
| Cash Flow pS | 1.09 | $ |
| Free Cash Flow pS | 1.07 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 1.95 | |
| Price/Tangible Book Ratio | 2.00 | |
| Price/Cash Flow | 20.3 | |
| Price/Free Cash Flow | 20.7 | |
| P/E as % of Industry Group | 162.0 | % |
| P/E as % of Sector Segment | 4.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 04/08/2013 |
| Dividend Ex-Date | 04/22/2013 |
| Dividend Record Date | 04/24/2013 |
| Dividend Pay Date | 05/08/2013 |
| Dividend Amount | 90 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.36 |
| Current Dividend Yield | 1.6 |
| 5-Y Average Dividend Yield | 1.6 |
| Payout Ratio | 49.0 |
| 5-Y Average Payout Ratio | 29.0 |
|  | | Share price performance previous 3 years |
|
 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | -2.7 | 98 | 6,648 | 23,770 |
| 4 Weeks | 23.15 | 20.26 | 20.55 | 7.9 | 103 | 7,647 | 145,286 |
| 13 Weeks | 23.53 | 18.00 | 23.37 | -5.1 | 87 | 9,289 | 585,184 |
| 26 Weeks | 23.82 | 18.00 | 18.50 | 19.9 | 102 | 10,160 | 1,259,838 |
| 52 Weeks | 31.03 | 15.38 | 30.09 | -26.3 | 59 | 11,977 | 2,970,181 |
| YTD | 23.82 | 18.00 | - | 13.5 | 98 | 10,079 | 997,793 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 22.53 | 22.34 | 20.84 | 20.34 | 20.02 | 1.16 | 1.21 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 6.94 | 65.4 | 6.15 |
| Income | -3.27 | 2.6 | -17.52 |
| Dividend | 0.00 | 0.0 | 0.00 |
| Capital Spending | 6.11 | NA | -10.62 |
| R&D | 10.18 | NA | 14.31 |
| Normalized Inc. | -3.25 | NA | -17.48 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | 6.1 | 6.1 | -13.5 |
| Earnings % | -39.1 | -39.1 | -65.9 |
| EPS % | -35.0 | -35.0 | -65.1 |
| EPS $ | -0.07 | -0.07 | -1.38 |
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| |
| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 38.29 |
| Current Ratio | 4.2 |
| Quick Ratio (Acid Test) | 3.1 |
| Liquidity Ratio (Cash) | 2.14 |
| Receivables Turnover | 6.8 |
| Average Collection Period | 53 |
| Working Capital/Equity | 49.0 |
| Working Capital pS | 5.45 |
| Cash-Flow pS | 1.12 |
| Free Cash-Flow pS | 0.93 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 5.62 |
| Financial Leverage Ratio (Assets/Equity) | 1.3 |
| Debt Ratio | 21.9 |
| Total Debt/Equity (Gearing Ratio) | 0.07 |
| LT Debt/Equity | 0.07 |
| LT Debt/Capital Invested | 11.8 |
| LT Debt/Total Liabilities | 23.7 |
| Interest Cover | 32.1 |
| Interest/Capital Invested | 0.30 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 4.90 |
| Tobin's Q Ratio | 1.48 |
| Current P/E Ratio - LTM | 33.10 |
| Enterprise Value (EV)/EBITDA | 16.30 |
| Enterprise Value (EV)/Free Cash Flow | 29.30 |
| Dividend Yield | 1.6 |
| Price/Tangible Book Ratio - LTM | 2.00 |
| Price/Book Ratio - LTM | 1.95 |
| Price/Cash Flow Ratio | 20.3 |
| Price/Free Cash Flow Ratio - LTM | 20.7 |
| Price/Sales Ratio | 2.09 |
| P/E Ratio (1 month ago) - LTM | 30.9 |
| P/E Ratio (26 weeks ago) - LTM | 15.8 |
| P/E Ratio (52 weeks ago) - LTM | 16.6 |
| 5-Y High P/E Ratio | 52.6 |
| 5-Y Low P/E Ratio | 9.9 |
| 5-Y Average P/E Ratio | 18.5 |
| Current P/E Ratio as % of 5-Y Average P/E | 179 |
| P/E as % of Industry Group | 162.0 |
| P/E as % of Sector Segment | 4.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 33.1 |
| PER SHARE FIGURES |
| LT Debt pS | 0.74 |
| Current Liabilities pS | 1.71 |
| Tangible Book Value pS - LTM | 11.10 |
| Book Value pS - LTM | 11.36 |
| Capital Invested pS | 12.46 |
| Cash pS - LTM | 0.99 |
| Cash Flow pS - LTM | 1.09 |
| Free Cash Flow pS - LTM | 1.07 |
| Earnings pS (EPS) | 0.74 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 9.38 |
| Free Cash Flow Margin 5YEAR AVG | 12.17 |
| Net Profit Margin | 7.6 |
| Net Profit Margin - 5YEAR AVRG. | 15.5 |
| Equity Productivity | 0.90 |
| Return on Equity (ROE) | 6.8 |
| Return on Equity (ROE) - 5YEAR AVRG. | 16.3 |
| Capital Invested Productivity | 0.84 |
| Return on Capital Invested (ROCI) | 6.4 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 15.0 |
| Assets Productivity | 0.70 |
| Return on Assets (ROA) | 5.3 |
| Return on Assets (ROA) - 5YEAR AVRG. | 13.2 |
| Gross Profit Margin | 53.2 |
| Gross Profit Margin - 5YEAR AVRG. | 60.0 |
| EBITDA Margin - LTM | 11.0 |
| EBIT Margin - LTM | 10.3 |
| Pre-Tax Profit Margin | 11.8 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 23.0 |
| Effective Tax Rate | 35.2 |
| Effective Tax Rate - 5YEAR AVRG. | 33.0 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 179 |
| Revenue per Employee | 303,479 |
| Net Income per Employee | 23,111 |
| Average Collection Period | 57 |
| Receivables Turnover | 6.8 |
| Day's Inventory Turnover Ratio | 122 |
| Inventory Turnover | 3.0 |
| Inventory/Sales | 16.5 |
| Accounts Payble/Sales | 6.80 |
| Assets/Revenue | 1.43 |
| Net Working Capital Turnover | 1.83 |
| Fixed Assets Turnover | 1.41 |
| Total Assets Turnover | 0.7 |
| Revenue per $ Cash | 9.07 |
| Revenue per $ Plant | 7.73 |
| Revenue per $ Common Equity | 0.90 |
| Revenue per $ Capital Invested | 0.84 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 21.7 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 19.7 |
| Research & Devlopment (R&D) as % of Revenue | 20.3 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 20.3 |
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