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): January 21, 2008
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 January 21, 2008, ADTRAN, Inc. announced its financial results for the fiscal quarter ended December 31, 2007 and certain other information.
ADTRAN also announced that its Board of Directors declared a quarterly cash dividend. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on February 7, 2008. The ex-dividend date is February 5, 2008 and the payment date is February 21, 2008.
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, and stock-based compensation expense, for the fiscal quarter ended December 31, 2007 on the Investor Relations page of its website, www.adtran.com. A copy of the supplemental information is attached as Exhibits 99.2 and 99.3 hereto and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
The following exhibits are furnished as part of this Current Report on Form 8-K.

Exhibit Number	Description	
99.1	Press Release dated January 21, 2008.	
99.2	Revenues by product and segment classification	
99.3	Stock-based compensation expense	

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 January 21, 2008.

 	 	ADTRAN, Inc .
(Registrant)		

 	 	By: /s/ James E. Matthews		
 	 	James E. Matthews		
 	 	Senior Vice President – Finance,		
 	 	Chief Financial Officer, Treasurer,		
 	 	Secretary and Director		

EXHIBIT INDEX

Exhibit Number	Description	
99.1	Press Release dated January 21, 2008.	
99.2	Revenues by product and segment classification	
99.3	Stock-based compensation expense	

Exhibit 99.1
ADTRAN, Inc. Reports Fourth Quarter 2007 Results and Declares Quarterly Cash Dividend
HUNTSVILLE, Ala.--(BUSINESS WIRE)--ADTRAN, Inc. (NASDAQ:ADTN) reported results for the fourth quarter of 2007. Sales increased 9% to $118,971,000 for the quarter compared to $109,114,000 for the fourth quarter of 2006. Operating income increased 24% to $25,428,000 for the quarter compared to $20,564,000 for the fourth quarter of 2006. Net income was $18,111,000 for the quarter compared to $17,056,000 for the fourth quarter of 2006. Earnings per share, assuming dilution, were $0.27 for the quarter compared to $0.24 for the fourth quarter of 2006.
ADTRAN Chief Executive Officer Tom Stanton stated, “In the fourth quarter we continued to see the benefits of our strategy of expanding into system level applications and new geographical areas. Total revenue in our growth businesses grew 56% in the quarter compared to the same period in the prior year. Our Broadband Access category led this growth with a record 98% revenue increase compared to the same period in the prior year, as we began to see the effects of market share gains for fiber-to-the-node applications in both domestic and international markets. Optical Access and Internetworking product categories continued to demonstrate strong momentum as we saw solid growth in these areas for the fourth quarter compared to the same period in the prior year.”
Tom Stanton also stated, “During the year 2007 we were successful in capturing a significant number of meaningful new customer opportunities. We believe these achievements along with our strong operating model will provide considerable, long term revenue and earnings growth for our company.”
The Company also announced that its Board of Directors declared a cash dividend for the fourth quarter of 2007. The quarterly cash dividend is $0.09 per common share to be paid to holders of record at the close of business on February 7, 2008. The ex-dividend date is February 5, 2008 and the payment date is February 21, 2008.
The Company also confirmed that its fourth quarter conference call will be held Tuesday, January 22, 2008 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 1,600 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 copper, fiber, and wireless 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, 2006 and Form 10-Q for the quarter ended September 30, 2007. These risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements included in this press release.

Condensed Balance Sheet
Unaudited
(In thousands)	
				 	
 		December 31,		December 31,	
		2007		2006	
Assets					
Cash and cash equivalents		$	13,941		$	40,147	
Short-term investments			148,416			99,700	
Accounts receivable, net			70,667			56,769	
Other receivables			3,085			7,481	
Income tax receivable, net			-			1,446	
Inventory, net			48,546			53,117	
Prepaid expenses and other current assets		 	9,682	 	 	10,505	
Total current assets			294,337			269,165	
					
Property, plant and equipment, net			75,969			80,194	
Deferred tax assets, net			1,113			-	
Other assets			505			534	
Long-term investments		 	107,296	 	 	189,765	
Total assets		$	479,220	 	$	539,658	
				 	
Liabilities and Stockholders’ Equity					
Accounts payable		$	22,200		$	30,321	
Unearned revenue			5,361			5,802	
Accrued expenses			3,801			3,827	
Accrued wages and benefits			10,497			9,579	
Income tax payable, net		 	1,217	 	 	-	
Total current liabilities			43,076			49,529	
				 	
Deferred tax liabilities, net			-			694	
Other non-current liabilities			9,213			4,667	
Bonds payable		 	48,500	 	 	48,812	
Total liabilities			100,789			103,702	
				 	
Stockholders’ equity		 	378,431	 	 	435,956	
Total liabilities and stockholders’ equity		$	479,220		$	539,658	

Consolidated Statements of Income
(In thousands, except per share data)
Unaudited	
								 	
		Three Months
Ended		Three Months
Ended		Twelve Months
Ended		Twelve Months
Ended	
		December 31,
2007		December 31,
2006		December 31,
2007		December 31,
2006	
								 	
Sales		$	118,971			$	109,114			$	476,778			$	472,708		
Cost of sales		 	49,452	 	 	 	45,727	 	 	 	193,792	 	 	 	193,747	 	
								 	
Gross profit			69,519				63,387				282,986				278,961		
								 	
Selling, general and administrative expenses			25,363				25,704				103,329				102,646		
Research and development expenses		 	18,728	 	 	 	17,119	 	 	 	75,367	 	 	 	70,700	 	
								 	
Operating income			25,428				20,564				104,290				105,615		
								 	
Interest income			2,765				3,212				11,521				13,493		
Interest expense			(626	)			(632	)			(2,502	)			(2,532	)	
Net realized investment gain			(10	)			250				498				1,379		
Other income, net			64				128				764				570		
Life insurance proceeds		 	-	 	 	 	-	 	 	 	1,000	 	 	 	-	 	
								 	
Income before provision for income taxes			27,621				23,522				115,571				118,525		
								 	
Provision for income taxes		 	(9,510	)	 	 	(6,466	)	 	 	(39,236	)	 	 	(40,192	)	
								 	
Net income		$	18,111	 	 	$	17,056	 	 	$	76,335	 	 	$	78,333	 	
								 	
Weighted average shares outstanding									
Basic			65,752				70,228				67,848				73,451		
Diluted (1)			66,866				71,788				69,212				75,197		
								 	
Earnings per common share									
Basic		$	0.28			$	0.24			$	1.13			$	1.07		
Diluted (1)		$	0.27			$	0.24			$	1.10			$	1.04		
								 	
(1) Assumes exercise of dilutive stock options calculated under the treasury stock method.	

Consolidated Statements of Cash Flow
For the Twelve Months ended December 31,
Unaudited
(In thousands)	
				 	
		2007		2006	
Cash flows from operating activities:					
Net income		$	76,335			$	78,333		
Adjustments to reconcile net income to net cash
provided by operating activities:					
Depreciation and amortization			10,695				10,827		
Amortization of net premium on available-for-sale investments			2,094				3,137		
Gain on sale of long-term investments			(580	)			(1,379	)	
Loss on disposal of property, plant and equipment			65				73		
Stock-based compensation expense			7,815				8,138		
Deferred income taxes			(2,960	)			(4,332	)	
Tax benefit from stock option exercises			4,408				1,583		
Excess tax benefits from stock-based compensation arrangements			(3,249	)			(973	)	
Change in operating assets and liabilities:					
Accounts receivable, net			(13,898	)			9,477		
Other receivables			4,396				(4,267	)	
Income tax receivable, net			1,446				(1,446	)	
Inventory, net			4,571				(2,185	)	
Prepaid expenses and other assets			596				167		
Accounts payable			(7,933	)			4,932		
Accrued expenses and other liabilities			3,517				(2,256	)	
Income tax payable, net		 	1,507	 	 	 	(4,551	)	
Net cash provided by operating activities			88,825				95,278		
Cash flows from investing activities:					
Purchases of property, plant and equipment			(6,535	)			(6,061	)	
Proceeds from sales and maturities of available-for-sale investments			253,339				323,211		
Purchases of available-for-sale investments			(217,316	)			(293,098	)	
Acquisition of business		 	-	 	 	 	(400	)	
Net cash provided by investing activities			29,488				23,652		
Cash flows from financing activities:					
Proceeds from stock option exercises			15,288				4,441		
Purchases of treasury stock			(138,589	)			(170,479	)	
Dividend payments			(24,600	)			(26,755	)	
Payments on long-term debt			(500	)			(500	)	
Excess tax benefits from stock-based compensation arrangements		 	3,249	 	 	 	973	 	
Net cash used in financing activities			(145,152	)			(192,320	)	
Net decrease in cash and cash equivalents			(26,839	)			(73,390	)	
Effect of exchange rate changes			633				743		
Cash and cash equivalents, beginning of period		 	40,147	 	 	 	112,794	 	
Cash and cash equivalents, end of period		$	13,941	 	 	$	40,147	 	

CONTACT:
ADTRAN, Inc.
Jim Matthews, Senior Vice President/CFO, 256-963-8775
or
Investor Services/Assistance:
Gayle Ellis, 256-963-8220

EXHIBIT 99.2

ADTRAN, INC.
(In thousands)

	2007	
Product Revenues Based on New Categories:	Q4	Q3	Q2	Q1	
Loop Access	$	46,147	$	56,282	$	55,003	$	51,248	
Carrier Systems		49,127		44,587		46,491		39,564	
Business Networking	 	23,697	 	22,952	 	22,180	 	19,500	
	$	118,971	$	123,821	$	123,674	$	110,312	
				 	
Subcategories included in above:					
Broadband Access (included in Carrier Systems)	$	27,276	$	18,241	$	20,163	$	18,271	
Optical Access (included in Carrier Systems)		10,805		13,854		9,833		8,617	
Internetworking (Netvanta & Multi-service Access Gateway)
(included in Business Networking)		14,236		14,462		
13,591		
11,092	
HDSL (does not include T1) (included in Loop Access)		36,283		47,196		46,319		43,752	
Other products	 	30,371	 	30,068	 	33,768	 	28,580	
	$	118,971	$	123,821	$	123,674	$	110,312	
				 	
Segment Revenues:					
Carrier Networks	$	87,199	$	93,090	$	93,288	$	84,446	
Enterprise Networks	 	31,772	 	30,731	 	30,386	 	25,866	
	$	118,971	$	123,821	$	123,674	$	110,312	
				 	
Sales by Geographic Region:					
United States	$	103,247	$	116,021	$	115,419	$	102,472	
International	 	15,724	 	7,800	 	8,255	 	7,840	
	$	118,971	$	123,821	$	123,674	$	110,312	

	2006	
Product Revenues Based on New Categories:	Q4	Q3	Q2	Q1	
Loop Access	$	51,753	$	59,053	$	55,427	$	43,260	
Carrier Systems		34,813		50,049		46,369		44,051	
Business Networking	 	22,548	 	23,548	 	20,500	 	21,337	
	$	109,114	$	132,650	$	122,296	$	108,648	
				 	
Subcategories included in above:					
Broadband Access (included in Carrier Systems)	$	13,761	$	23,870	$	21,490	$	21,002	
Optical Access (included in Carrier Systems)		8,857		10,122		9,078		8,424	
Internetworking (Netvanta & Mulit-service Access Gateway)
(included in Business Networking)		10,912		9,162		
7,599		
8,429	
HDSL (does not include T1) (included in Loop Access)		42,788		49,563		45,979		35,664	
Other	 	32,796	 	39,933	 	38,150	 	35,129	
	$	109,114	$	132,650	$	122,296	$	108,648	
				 	
Segment Revenues:					
Carrier Networks	$	79,281	$	101,466	$	94,640	$	81,219	
Enterprise Networks	 	29,833	 	31,184	 	27,656	 	27,429	
	$	109,114	$	132,650	$	122,296	$	108,648	
				 	
Sales by Geographic Region:					
United States	$	98,577	$	124,552	$	114,697	$	102,931	
International	 	10,537	 	8,098	 	7,599	 	5,717	
	$	109,114	$	132,650	$	122,296	$	108,648	

EXHIBIT 99.3

ADTRAN, INC.
(In thousands)

	Three Months Ended	Twelve Months Ended	
	December 31,	December 31,	
		2007			2006			2007			2006		
				 	
Stock-based compensation expense included in
cost of sales	
$	
(15	
)	
$	
139	 	
$	
268	 	
$	
399	 	
				 	
Selling, general and administrative expense		273			993			3,495			3,945		
Research and development expense	 	817	 	 	912	 	 	4,052	 	 	3,794	 	
Stock-based compensation expense included in
operating expenses	 	1,090	 	 	1,905	 	 	7,547	 	 	7,739	 	
				 	
Total stock-based compensation expense		1,075			2,044			7,815			8,138		
Tax benefit for expense associated with
non-qualified options	 	(1	)	 	(197	)	 	(680	)	 	(971	)	
Total stock-based compensation expense, net of tax	$	1,074	 	$	1,847	 	$	7,135	 	$	7,167