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Adtran Inc (ADTN) has shared an announcement.
ADTRAN Holdings, Inc., a company listed on the Frankfurt Stock Exchange, expects to record a significant goodwill impairment charge of $293 million for the first quarter of 2024, driven by factors like decreased market capitalization and economic uncertainty affecting customer spending. This charge will increase the GAAP operating loss for the quarter but won’t affect cash flow, revenue, or compliance with credit agreements. The announcement serves as a caution, reflecting challenges in the financial landscape, and underscores the importance of market regulations requiring timely disclosure to investors.
Learn more about ADTN stock on TipRanks’ Stock Analysis page.