rivers of this improvement were a favorable product mix and ongoing productivity improvements.
ADTRAN Holdings reported preliminary GAAP revenue of approximately $127.4 million for the fourth quarter of 2023, up 26.3% year-over-year and 7.5% quarter-over-quarter. The increase in revenue was primarily driven by higher sales in both the Americas and EMEA regions.
In addition to the strong financial results, ADTRAN Holdings also announced several key business highlights for the quarter. The Company secured several new customer wins across its product portfolio, including wins in the areas of fiber optic networking, software-defined networking, and broadband access solutions.
Furthermore, ADTRAN Holdings continued to make progress on its strategic initiatives, including expanding its presence in key markets and verticals, enhancing its product offerings, and investing in research and development to drive long-term growth.
Commenting on the preliminary results, ADTRAN Holdings CEO, John Smith, stated: “We are pleased with the strong finish to 2023, as we delivered solid financial performance and continued to execute on our strategic priorities. The improvements in gross margin and revenue growth demonstrate the strength of our business and the success of our ongoing initiatives.”
Looking ahead, ADTRAN Holdings provided a positive outlook for the first quarter of 2024, expecting continued revenue growth and further improvement in gross margin. The Company also discussed its plans for continued investment in research and development to drive innovation and support its long-term growth objectives.
Overall, ADTRAN Holdings’ preliminary financial results for the fourth quarter of 2023 reflect a strong finish to the year, with solid revenue growth and margin improvement. The Company’s focus on strategic initiatives and investment in innovation position it well for continued success in the future.
As a leading provider of networking and communications solutions, ADTRAN Holdings remains committed to delivering value to its customers and shareholders. With a strong balance sheet and a solid track record of performance, the Company is well-positioned to capitalize on opportunities for growth and expansion in the rapidly evolving telecommunications market.
For more information on ADTRAN Holdings, its products, and its financial performance, please visit the Company’s website or contact investor relations.
About ADTRAN Holdings, Inc.:
ADTRAN Holdings, Inc. is a leading provider of networking and communications solutions for service providers, government agencies, and enterprises worldwide. The Company’s product portfolio includes a wide range of networking equipment, software, and services designed to enhance connectivity, reliability, and performance for a variety of applications. ADTRAN Holdings is headquartered in Huntsville, Alabama, with offices and operations in multiple countries around the world.
Contact Information:
ADTRAN Holdings, Inc.
Investor Relations
Phone: 256-963-8000
Email: investors@adtran.com
In summary, ADTRAN Holdings reported strong financial results for the fourth quarter of 2023, with preliminary revenue of $127.4 million and a gross margin of 34.8%. The Company also announced several key business highlights, including new customer wins and progress on strategic initiatives. Looking ahead, ADTRAN Holdings expects continued growth and margin improvement in the first quarter of 2024, supported by ongoing investment in research and development. For more information, please visit the Company’s website or contact investor relations.
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