- ADTRAN Holdings (NASDAQ: ADTN) said it expects to record a material impairment charge of an estimated $293 million related to the Company's goodwill during the three months ended March 31, 2024.
- “In connection with the preparation of its consolidated financial statements for In the first quarter of 2024, the Company determined that factors such as a decline in the Company's market capitalization, cautious spending by service providers due to economic uncertainty, and continued inventory adjustments by customers triggered an evaluation of quantitative deterioration of the Company's reporting units,” the company said in a presentationand added that it determined that the carrying value of its Network Solutions segment exceeded its fair value and a significant goodwill impairment charge will be required for the first quarter.