Adtran Q2 profit beat estimates
* Says Q2 profit $0.30/shr vs $0.34/shr a year ago
* Says Q2 sales $121.5 mln vs $ 131.2 mln last year
July 15 (Reuters) - Networking and communications equipment provider Adtran Inc's (ADTN.O) second-quarter earnings fell about 16 percent but still beat analysts' estimates, helped by a 28 percent growth in its internetworking revenue.
"Our growth businesses represented a record 54 percent of total company revenues for the quarter compared to 46 percent for the same period last year," Chief Executive Thomas Stanton said in a statement.
Adtran, which competes with Cisco Systems (CSCO.O) and Juniper Networks JNPR.O, posted net income of $18.9 million, or 30 cents a share, compared with $22.4 million, or 34 cents a share, last year.
Sales fell by about 7 percent to $121.5 million.
Analysts on average were expecting earnings of 28 cents, before special items, on revenue of $118 million, according to Reuters Estimates.
Adtran's stock, which has risen about 35 percent over the last six months, closed at $21.74 on Tuesday on Nasdaq. (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Maju Samuel)
