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HUNTSVILLE, Ala. - ADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9), a global provider of networking and communications solutions, has announced the postponement of its 2025 annual meeting of stockholders, which was originally scheduled for May 14, 2025. The delay is due to the company’s ongoing process of restating its financial statements for the years ended December 31, 2024, and 2023, as well as certain interim periods in 2024. According to InvestingPro data, ADTRAN currently maintains a healthy liquidity position with a current ratio of 2.03, indicating its ability to meet short-term obligations. The company’s market capitalization stands at $682 million, with the stock trading at $8.56.
The company has clarified that while the restatements are not expected to materially alter the preliminary earnings released on May 7, 2025, the postponement will provide stockholders with sufficient time to review the restated financial documents. Tim Santo, Adtran’s SVP and CFO, stated, "While the timing is unfortunate and requires the postponement of the annual meeting of stockholders, we are fully committed to filing the restatements on or before May 19."
ADTRAN Holdings aims to complete and file the restatements with the Securities and Exchange Commission as soon as possible. Following this, the company will announce the new date and time for its Annual Meeting to its stockholders.
The company, known for its open and disaggregated networking solutions, enables a range of communications from the cloud edge to the subscriber edge, catering to service providers, private enterprises, government organizations, and individual users globally. It is also the majority shareholder of Adtran Networks SE, previously known as ADVA Optical Networking SE.
The press release also contained forward-looking statements regarding the expected timing of the completion and filing of the Restatements and the determination of a new date for the Annual Meeting. These statements are based on current management expectations and are subject to change.
This news article is based on a press release statement from ADTRAN Holdings, Inc. The company has not yet provided additional details on the specific reasons for the financial restatements or the impact they may have on its historical financial statements. Investors and stakeholders are advised to await the forthcoming restated financial statements for a comprehensive view of the company’s financial position. For deeper insights into ADTRAN’s financial health and future prospects, InvestingPro subscribers can access comprehensive analysis, including 6 additional ProTips and detailed financial metrics in the Pro Research Report, which transforms complex Wall Street data into actionable intelligence.
In other recent news, ADTRAN Holdings reported a strong financial performance for the first quarter of 2025, exceeding both earnings and revenue expectations. The company posted earnings per share of $0.03, surpassing the forecasted -$0.0325, and generated revenue of $247.74 million, beating expectations by $12.1 million. ADTRAN highlighted robust demand in the European market and new product launches as key contributors to its revenue growth. Additionally, ADTRAN has announced that it will restate its financial statements for fiscal years 2023 and 2024 due to identified errors, with a €5.7 million increase in the reported loss for 2024. The company is working to file the restated financials by May 19, 2025, and has postponed its annual meeting of stockholders until the restatement process is complete. In another development, ADTRAN adjusted its credit agreement terms, reducing total commitments from $374 million to $350 million, and waived certain defaults related to financial statement inaccuracies. These adjustments were made in collaboration with lenders led by Wells Fargo Bank.
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