UPDATE 1-Adtran says order rate strong in Jan, shares rise
* Q4 adjusted EPS $0.29 tops estimate by $0.02
* Q4 revenue $112.4 mln misses estimate by $4 mln
* Sees Q1 revenue flat to slightly down sequentially
* Says order rate strong so far in January
* Shares fall 6 pct but pare losses (Recasts; adds outlook, analysts' comments and share movement)
By Purwa Naveen Raman
BANGALORE, Jan 21 (Reuters) - Adtran Inc (ADTN.O: Cotización) forecast first-quarter revenue slightly below market estimates, but the network access equipment maker said order rate has been strong so far in January, sending its shares up as much as 8 percent.
"I can't tell you it (order rate) will hang through the rest of January because we are pretty much a book-and-ship business and things are volatile, but at this point in time in January we're feeling pretty good," a company executive said in a conference call with analysts.
The company had seen a decline in demand for its products in the fourth quarter as customers pulled back on spending amid the weak economy. Continuación...