RTTNews | Oct 15, 2021 07:36AM EDT

07:35 Friday, October 15, 2021 (RTTNews.com) - ADTRAN, Inc. (ADTN) on Friday said it expects revenue of $138 million in the third quarter. This compares with the average estimate of analysts polled by Thomson Reuters of $148.95 million.

The company sees gross margin of 34.5% and operating loss of $10.2 million for the third quarter.

On an adjusted basis gross margin is expected at 34.6% and operating loss at $2.6 million, lower than the company's prior guidance. The lower gross margin and decreased profitability are attributed to supply chain constraint-related expenses of about 9 million incurred during the quarter.

However, the company's overall bookings in the quarter were up 43% year-over-year with a book-to-bill ratio of 1.43.

"ADTRAN is working closely with our suppliers and customers to address the near-term supply chain challenges facing the industry. We believe these challenges are peaking during the second half of 2021 and will begin to normalize by mid-2022," the company said.

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