Wednesday, July 17, 2013

ADVA's Q2 Financial Results Top Guidance

ADVA Optical Networking announced Q2 2013 revenues of EUR 78.4 million in Q2 2013  -- slightly above guidance of between EUR 73 million and EUR 78 million.  This is down 8.7% vs. Q2 2012 at EUR 85.9 million and up 1.7% vs. EUR 77.0 million in Q1 2013.

IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 1.5 million or 2.0% of revenues in Q2 2013, at the upper end of guidance of between -2% and +2% of revenues. This compares to EUR 6.8 million or 8.0% of revenues in Q2 2012 and EUR 0.8 million or 1.0% of revenues in Q1 2013.

"We are pleased with our Q2 2013 results which were achieved in a volatile macro-economic environment. At EUR 78.4 million, our Q2 2013 revenues are above guidance and are up 1.7% vs. the previous quarter. Our pro forma gross margin strengthened from 38.6% in Q1 2013 to 39.9% in Q2 2013. This improvement is due to changes in product and customer mix and also demonstrates our focus on managing operational costs, " commented Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking.