HUNTSVILLE (dpa-AFX) - U.S. telecom equipment maker Adtran significantly missed its own targets and analysts' expectations for both revenue and profit in the first quarter. In the first three months, preliminary figures put revenue at between $322 million and $326 million, the MDax-listed parent of German telecom equipment maker Adva announced Tuesday in Huntsville. Adtran had projected revenue of between $355 million and $375 million. The average forecast of analysts had been $364 million, according to the company. The company did not give reasons for the significant variance.

The operating result in the first quarter was even more disappointing. Here, the Group surprisingly wrote operating figures in the red. The margin, measured by earnings adjusted for special effects, was between minus 2.5 percent and minus 1.0 percent. Converted, this results in an operating loss of up to around eight million dollars. Equity analysts had previously expected a margin of just under six percent or, converted, an operating profit of slightly more than 20 million dollars. Adtran itself had previously expected an operating margin of 5.0 percent to 6.5 percent. The US company will present detailed figures on May 9.

Including all special effects, the operating loss had been between 45 million and 55 million dollars. The company did not provide details of the results for the same period last year. The first-quarter results published last year had not yet included Adva's earnings, as the U.S. group only completed the acquisition of its German competitor in July last year. Adtran was therefore initially listed on the SDax. In September, the company was promoted to the MDax. The U.S. group holds around two-thirds of Adva shares, which in turn have been included in the SDax again since December./zb