ADTRAN, Inc. (NASDAQ:ADTN) Q1 2022 Earnings Conference Call May 5, 2022 10:30 AM ET
Company Participants
Tom Stanton - Chief Executive Officer
Mike Foliano - Chief Financial Officer
Conference Call Participants
Bala Reddy - Goldman Sachs
Michael Genovese - Rosenblatt Securities
Bill Dezellem - Tieton Capital
Paul Essi - William K. Woodruff
Tim Savageaux - Northland Capital
Fahad Najam - Loop Capital
Orin Hirschman - AIGH
Operator
Ladies and gentlemen, thank you for standing by and welcome to ADTRAN's First Quarter 2022 Earnings Release Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. [Operator Instructions]
During the course of the conference call, ADTRAN representatives expect to make forward-looking statements, which reflect management's best judgments based on factors currently unknown. 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 costs, freight and logistic costs, manufacturing efficiencies 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 ended 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, Hanna. Good morning, everyone. We appreciate you joining us for our first 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 that you may have.
Q1 continued our trend of record demand for our fiber broadband solutions, with a diverse mix of service providers across our key growth markets in the US and Europe. This demand continues to be driven by the massive buildup of fiber broadband networks, paired with the deployment of mesh Wi-Fi solutions in the home and the adoption of cloud-based network automation tools.
Some of the key highlights for the quarter included the following. Overall revenue was up 21% year-over-year. Fiber access platforms revenue was up 61% year-over-year, led by a diverse mix of regional service providers in the US and Europe and included the expected ramp in shipments to Tier 1 customers.