UNITED STATES 
 SECURITIES AND EXCHANGE COMMISSION 
 Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):   April 12, 2011

ADTRAN, Inc.
(Exact name of registrant as specified in its charter)

Delaware	0-24612	63-0918200	
(State of Incorporation)	(Commission file number)	(I.R.S. Employer
Identification Number)	

901 Explorer Boulevard, Huntsville, Alabama 35806-2807 
 (Address of principal executive offices, including zip code)

(256) 963-8000
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02     Results of Operations and Financial Condition.
On April 12, 2011, ADTRAN, Inc. announced its financial results for the fiscal quarter ended March 31, 2011 and certain other information.
ADTRAN also announced that its Board of Directors declared a quarterly cash dividend of $0.09 per common share to be paid to holders of record at the close of business on April 28, 2011.  The ex-dividend date is April 26, 2011 and the payment date is May 12, 2011.
A copy of ADTRAN's press release announcing such financial results and other information is attached as Exhibit 99.1 hereto and incorporated by reference herein.
In addition, ADTRAN has posted supplemental information regarding revenues by product category, subcategory and segment for the fiscal quarter ended March 31, 2011 on the Investor Relations page of its website, www.adtran.com.  A copy of the supplemental information is attached as Exhibit 99.2 hereto and incorporated by reference herein.

Item 9.01     Financial Statements and Exhibits.
                      (d)  Exhibits.
                      The following exhibits are furnished as part of this Current Report on Form 8-K.

Exhibit Number	 	Description	
		 	
99.1		Press Release dated April 12, 2011.	
		 	
99.2		Revenues by product and segment classification	

SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on April 13, 2011.

 	ADTRAN, Inc.	
	(Registrant)	
	 	
	By: /s/ James E. Matthews	
	James E. Matthews	
	Senior Vice President – Finance,	
	Chief Financial Officer, Treasurer,	
	Secretary and Director	
	(Principal Accounting Officer)	

EXHIBIT INDEX

Exhibit Number	 	Description	
		 	
99.1		Press Release dated April 12, 2011.	
		 	
99.2		Revenues by product and segment classification	

Exhibit 99.1
ADTRAN, Inc. Reports Record Results for First Quarter 2011 and Declares Quarterly Cash Dividend
HUNTSVILLE, Ala.--(BUSINESS WIRE)--April 12, 2011--ADTRAN, Inc. (NASDAQ:ADTN) reported results for the first quarter of 2011. Sales increased 30% to an all time record level of $165,522,000 for the quarter, compared to $127,027,000 for the first quarter of 2010. Operating income increased 80% to $45,606,000 for the quarter compared to $25,345,000 for the first quarter of 2010. Net income increased 88% to $34,258,000 for the quarter, compared to $18,194,000 for the first quarter of 2010. Earnings per share, assuming dilution, increased 79% to $0.52 for the quarter, compared to $0.29 for the first quarter of 2010.
ADTRAN Chief Executive Officer Tom Stanton stated, “For the quarter our combined growth areas grew 51% over the previous year, allowing the company to achieve its fourth consecutive quarterly revenue record. Moreover, each of the individual segments within this category achieved new records. Broadband Access saw revenue growth of 42% over first quarter 2010, led by the continued success of our Total Access 5000 platform. Our Internetworking category grew 48%, fueled by channel expansion and growing acceptance of new applications. Optical Access grew an impressive 86%, driven by the increasing demand for mobile data. We are pleased with the long term prospects of the markets we serve and our company’s position to deliver positive results.”
The Company reported that stock-based compensation expense for the first quarter of 2011 reduced diluted earnings per share by $0.03 compared to a reduction of $0.02 for the first quarter of 2010.
The Company also announced that its Board of Directors declared a cash dividend for the first quarter of 2011. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on April 28, 2011. The ex-dividend date is April 26, 2011 and the payment date is May 12, 2011.
The Company confirmed that its first quarter conference call will be held Wednesday, April 13, 2011 at 9:30 a.m. Central Time. This conference call will be web cast live through StreetEvents.com. To listen, simply visit the Investor Relations site at http://www.adtran.com or http://streetevents.com approximately 10 minutes prior to the start of the call and click on the conference call link provided.
An online replay of the conference call will be available for seven days at http://streetevents.com . In addition, an online replay of the conference call, as well as the text of the Company's earnings release, will be available on the Investor Relations site at http://www.adtran.com for at least 12 months following the call.
ADTRAN, Inc. is a leading global provider of networking and communications equipment, with a portfolio of more than 1,700 solutions for use in the last mile of today's telecommunications networks. Widely deployed by carriers and enterprises alike, ADTRAN solutions enable voice, data, video, and Internet communications across a variety of network infrastructures. ADTRAN solutions are currently in use by every major U.S. service provider and many global ones, as well as by thousands of public, private and governmental organizations worldwide.
For more information, contact the company at 800 9ADTRAN (800 923-8726) or via email at info@adtran.com . On the Web, visit www.adtran.com .
This press release contains forward-looking statements which reflect management’s best judgment based on factors currently known. However, these statements involve risks and uncertainties, including the successful development and market acceptance of new products, the degree of competition in the market for such products, the product and channel mix, component costs, manufacturing efficiencies, and other risks detailed in our annual report on Form 10-K for the year ended December 31, 2010. These risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements included in this press release.

Condensed Consolidated Balance Sheet
Unaudited
(In thousands)	
	 		 		
		March 31,
2011		December 31,
2010	
Assets					
Cash and cash equivalents		$	37,321		$	31,677	
Short-term investments			99,522			157,479	
Accounts receivable, net			84,455			70,893	
Other receivables			12,687			3,962	
Income tax receivable, net			-			2,741	
Inventory			79,034			74,274	
Prepaid expenses			3,410			3,270	
Deferred tax assets, net		 	12,084		 	10,617	
Total current assets			328,513			354,913	
				 	
Property, plant and equipment, net			74,382			73,986	
Other assets			1,904			1,915	
Long-term investments		 	379,831		 	261,160	
				 	
Total assets		$	784,630		$	691,974	
				 	
Liabilities and Stockholders' Equity					
Accounts payable		$	33,902		$	22,785	
Unearned revenue			17,516			10,138	
Accrued expenses			5,248			4,913	
Accrued wages and benefits			11,237			12,125	
Income tax payable, net		 	1,699		 	-	
Total current liabilities			69,602			49,961	
				 	
Deferred tax liabilities, net			11,978			10,350	
Other non-current liabilities			14,632			11,841	
Bonds payable		 	46,500		 	47,500	
Total liabilities			142,712			119,652	
				 	
Stockholders' equity		 	641,918		 	572,322	
				 	
Total liabilities and stockholders' equity		$	784,630		$	691,974	

Consolidated Statements of Income
Unaudited
(In thousands, except per share data)	
	 		
		Three Months Ended	
		March 31,	
		 	2011	 	 	 	2010	 	
				 	
Sales		$	165,522			$	127,027		
Cost of Sales		 	66,727	 		 	51,699	 	
				 	
Gross Profit			98,795				75,328		
				 	
Selling, general and administrative expenses			29,552				27,204		
Research and development expenses		 	23,637	 		 	22,779	 	
				 	
Operating Income			45,606				25,345		
				 	
Interest and dividend income			1,789				1,527		
Interest expense			(602	)			(603	)	
Net realized investment gain			2,767				2,192		
Other expense, net		 	(125	)		 	(187	)	
				 	
Income before provision for income taxes			49,435				28,274		
				 	
Provision for income taxes		 	(15,177	)		 	(10,080	)	
				 	
Net Income		$	34,258	 		$	18,194	 	
				 	
Weighted average shares outstanding - basic			64,189				61,999		
Weighted average shares outstanding - diluted (1)			65,957				63,060		
				 	
Earnings per common share - basic		$	0.53			$	0.29		
Earnings per common share - diluted (1)		$	0.52			$	0.29		
				 	
(1) Assumes exercise of dilutive stock options calculated under the treasury stock method.	

Supplemental Information
Stock-based Compensation Expense
Unaudited
(In thousands)	
	 		
		Three Months Ended	
		March 31,	
		 	2011	 	 	 	2010	 	
				 	
Stock-based compensation expense included in cost of sales		$	91	 		$	68	 	
				 	
Selling, general and administrative expense			1,007				750		
Research and development expense		 	991	 		 	871	 	
				 	
Stock-based compensation expense included in operating expenses		 	1,998	 		 	1,621	 	
				 	
Total stock-based compensation expense			2,089				1,689		
Tax benefit for expense associated with non-qualified options		 	(440	)		 	(177	)	
				 	
Total stock-based compensation expense, net of tax		$	1,649	 		$	1,512	 	

Consolidated Statements of Cash Flow
Unaudited
(In thousands)	
	 		
		Three Months Ended	
		March 31,	
		 	2011	 	 	 	2010	 	
Cash flows from operating activities:					
Net income		$	34,258			$	18,194		
Adjustments to reconcile net income to net cash provided by operating activities:					
Depreciation and amortization			2,724				2,593		
Amortization of net premium on available-for-sale investments			1,299				1,102		
Net realized gain on long-term investments			(2,767	)			(2,192	)	
Net (gain) loss on disposal of property, plant and equipment			12				(3	)	
Stock-based compensation expense			2,089				1,689		
Deferred income taxes			877				(1,768	)	
Tax benefit from stock option exercises			9,942				437		
Excess tax benefits from stock-based compensation arrangements			(8,847	)			(373	)	
Change in operating assets and liabilities:					
Accounts receivable, net			(13,562	)			(6,096	)	
Other receivables			(8,725	)			(5,955	)	
Income tax receivable, net			2,741				-		
Inventory			(4,760	)			(2,125	)	
Prepaid expenses and other assets			(216	)			(371	)	
Accounts payable			10,117				8,989		
Accrued expenses and other liabilities			9,606				4,211		
Income tax payable, net		 	1,699	 		 	8,688	 	
Net cash provided by operating activities			36,487				27,020		
				 	
Cash flows from investing activities:					
Purchases of property, plant and equipment			(3,045	)			(2,329	)	
Proceeds from sales and maturities of available-for-sale investments			161,687				56,095		
Purchases of available-for-sale investments		 	(224,459	)		 	(64,956	)	
Net cash used in investing activities			(65,817	)			(11,190	)	
				 	
Cash flows from financing activities:					
Proceeds from stock option exercises			31,815				2,340		
Purchases of treasury stock			-				(10,330	)	
Dividend payments			(5,775	)			(5,577	)	
Excess tax benefits from stock-based compensation arrangements		 	8,847	 		 	373	 	
Net cash provided by (used in) financing activities			34,887				(13,194	)	
				 	
Net increase in cash and cash equivalents			5,557				2,636		
Effect of exchange rate changes			87				168		
Cash and cash equivalents, beginning of period		 	31,677	 		 	24,135	 	
				 	
Cash and cash equivalents, end of period		$	37,321	 		$	26,939	 	

CONTACT:
ADTRAN, Inc.
Jim Matthews, 256-963-8775
Senior Vice President/CFO
or
INVESTOR SERVICES/ASSISTANCE:
Gayle Ellis, 256-963-8220

Exhibit 99.2

Product and Segment Revenues
Unaudited
(In thousands)

	Three Months Ended	
	March 31,	
	2011	 	2010	
Product revenues:				
Carrier Systems	$	86,750			$	58,093		
Business Networking		36,363				26,457		
Loop Access	 	42,409	 		 	42,477	 	
Total	$	165,522	 		$	127,027	 	
			 	
Subcategories included in the above:				
Broadband Access (included in Carrier Systems)	$	51,782			$	36,362		
Optical Access (included in Carrier Systems)		20,916				11,259		
Internetworking (Netvanta & Multi-service Access
  Gateways) (included in Business Networking)	 	32,883	 		 	22,183	 	
Total Growth Products	 	105,581	 		 	69,804	 	
Percentage of Total Revenue		64	%			55	%	
			 	
HDSL (does not include T1) (included in Loop
  Access)		40,945				39,930		
Other Products (excluding HDSL)	 	18,996	 		 	17,293	 	
Total Traditional Products	 	59,941	 		 	57,223	 	
Percentage of Total Revenue		36	%			45	%	
			 	
Total	$	165,522	 		$	127,027	 	
			 	
Segment Revenues:				
Carrier Networks	$	132,360			$	99,524		
Enterprise Networks	 	33,162	 		 	27,503	 	
Total	$	165,522	 		$	127,027	 	
			 	
Sales by Geographic Region:				
United States	$	153,113			$	120,300		
International	 	12,409	 		 	6,727	 	
Total	$	165,522	 		$	127,027