ADTRAN Holdings, Inc. (NASDAQ:ADTN) Q2 2022 Earnings Conference Call August 4, 2022 10:30 AM ET

Company Participants

Tom Stanton - Chief Executive Officer

Mike Foliano - Chief Financial Officer

Conference Call Participants

Michael Genovese - Rosenblatt Securities

Paul Essi - William K. Woodruff

Paul Silverstein - Cowen

Ryan Koontz - Needham & Company

Tim Savageaux - Northland Capital Markets

Operator

Ladies and gentlemen, thank you for standing by and welcome to ADTRAN Holdings’ Second Quarter 2022 Earnings Release Conference Call. [Operator Instructions]

During the course of the conference call, ADTRAN representatives expect to make forward-looking statements, which reflect management’s best judgment based on the factors currently known. However, these statements involve risks and uncertainties, including the continued spread and extent of the impact of the COVID-19 global pandemic, the ability of component supplies to align with customer demand, the successful development and market acceptance of our products, competition in the market for such products, the product and channel mix, component cost, freight and logistic costs, manufacturing efficiencies, our ability to effectively integrate mergers and acquisitions, and other risks detailed in our annual report on Form 10-K for the year ended December 31, 2021, and our quarterly report on Form 10-Q for the quarter ending March 31, 2022. These risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements, which may be made during the call.

It is now my pleasure to turn the call over to Tom Stanton, Chief Executive Officer of ADTRAN. Sir, please go ahead.

Tom Stanton

Thank you, Chantelle. Good morning everyone. We appreciate you joining us for our second quarter 2022 earnings conference call. With me today is ADTRAN’s CFO, Mike Foliano. Following my opening remarks, Mike will review the quarterly financial performance in detail and then we will take any questions you may have.

First, I am pleased to report that we successfully closed the business combination agreement with ADVA Optical Network on July 15. This is a very important milestone in creating a global leader in fiber networking solutions. The combination of ADTRAN and ADVA created a $1.3 billion revenue company with a substantially larger addressable market and the tools, technologies and scale to materially improve our competitive position as we enter a period of historically intense investment as companies and countries around the world move to fiber. By combining these companies with complementary fiber networking portfolios and regional coverage, we believe we will be even more successful in the large investment cycle that we are now entering.