Tuesday, March 2, 2010

ADVA Optical Posts Q4 Revenues of EUR 60M, Topping Expectations

ADVA Optical Networking reported Q4 2009 revenues of EUR 59.6 million, up from EUR 56.8 million in Q4 2008 and EUR 58.1 million in Q3 2009, and slightly above guidance of between EUR 54 million and EUR 59 million. IFRS pro forma operating income, excluding special charges, amounted to EUR 3.1 million in Q4 2009 or 5.2% of revenues, also above guidance of between -1% and +4% of revenues. This compares to a Q4 2008 IFRS pro forma operating income of EUR 0.1 million or 0.1% of revenues, and to Q3 2009 IFRS pro forma operating income of EUR 2.0 million or 3.4% of revenues. The IFRS operating income in Q4 2009 was EUR 2.1 million, after an operating loss of EUR 0.5 million in Q4 2008.

"We are very pleased with our Q4 2009 revenues of EUR 59.6 million. This result slightly exceeds guidance and is up 2.6% vs. the previous quarter and up 4.8% vs. Q4 2008. Our pro forma gross margin increased from 41.8% in Q3 2009 to 45.4% in Q4 2009, principally due to variability of our customer and product mix. In line with strong revenue development, pro forma operating income in Q4 2009 is at 5.2% of revenues, also exceeding guidance," stated Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking.

In Q1 2010, ADVA expects revenues to range between EUR 57 million and EUR 62 million, and anticipates pro forma operating income of between 0% and 4% of revenues. http://www.advaoptical.com