Wednesday, April 28, 2010

ADVA Posts Q1 Revenue of EUR 63 Million, up 11% YoY

ADVA Optical Networking reported Q1 2010 revenues of EUR 63.2 million -- above guidance of between EUR 57 million and EUR 62 million -- and up 10.9% compared to a year earlier and up 6.0% compared to the preceding quarter. The IFRS net income amounted to EUR 2.4 million in Q1 2010, after a net loss of EUR 0.5 million in Q1 2009.

"We are very pleased with our Q1 2010 revenues of EUR 63.2 million, which exceed guidance and are nicely up 6.0% vs. the previous quarter and 10.9% vs. Q1 2009. This development is largely based on strong Ethernet access business and significantly improved sales into enterprises. Q1 2010 pro forma gross margin at 43.0% of revenues came in below the 45.4% seen in the previous quarter and was muted by the stronger USD, and by the evolution of our FSP 500 platform to the next-generation FSP 150 platform," commented Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking.