Monday, March 9, 2009

ADVA's Q4 Revenues Exceed Guidance

ADVA Optical Networking reported Q4 2008 revenue of EUR 56.8 million after EUR 53.8 million in Q4 2007 and EUR 54.1 million in Q3 2008. This is above guidance of between EUR 50 million and EUR 55 million for Q4 2008. IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 0.1 million in Q4 2008 or 0.1% of revenues, in line with guidance of between -3% and +2% of revenues. The IFRS operating loss in Q4 2008 was EUR 0.5 million, after an operating loss of EUR 23.2 million in Q4 2007.

"We are very pleased with our Q4 2008 revenues, which came in at EUR 56.8 million and are up 5.1% vs. the previous quarter and up 5.6% vs. Q4 2007. Beyond exceeding guidance, our quarterly revenue development is in contrast to the trend of most of our competitors in the current economic crisis. At EUR 0.1 million or 0.1% of revenues, pro forma operating income in Q4 2008 was within guidance of between -3% and +2% of revenues. Due to variations in regional revenue distribution and in product and customer mix, gross margins were somewhat below original expectations and prevented us from achieving a higher pro forma operating income margin," said Jaswir Singh, chief financial officer of ADVA Optical Networking.

See also