Monday, May 4, 2009

ADVA Reports Q1 Revenue of EUR 56.9 million, Beating Expectations

ADVA Optical Networking reported Q1 2009 revenues of EUR 56.9 million -- ahead of guidance of between EUR 50 million and EUR 55 million -- up 5% vs. Q1 2008 at EUR 54.0 million and marginally better than the EUR 56.8 million reported in 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 or -0.1% of revenues in Q1 2009, in line with guidance of between -4% and +1% of revenues.

"We are very pleased with our Q1 2009 revenues of EUR 56.9 million, which exceed guidance and are up for the third consecutive quarter. This development is also in contrast to the trend of most of our competitors in the current economic crisis. Further, we managed to improve our pro forma gross margin from 39.1% in Q1 2008 to 43.1% in Q1 2009, mainly resulting from more favorable component procurement terms as well as from variations in regional revenue distribution and in product and customer mix," commented Jaswir Singh, chief financial officer of ADVA Optical Networking.

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