ADVA Reports Q2 Profitability Above Guidance

ADVA Optical Networking reported Q2 revenues at a record high of EUR 85.9 million, up 10.3% vs. EUR 77.8 million in Q2 2011 and up 5.2% vs. EUR 81.7 million achieved in Q1 2012. This result is at the upper end of guidance of between EUR 81 million and EUR 86 million.

The company posted IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, of EUR 6.8 million or 8.0% of revenues in Q2 2012, above guidance of between 3% and 7% of revenues.

"We are very pleased with our Q2 2012 revenues of EUR 85.9 million, which are at the upper end of guidance and are up 5.2% vs. our previous quarter and 10.3% vs. Q2 2011. The quarter-on-quarter increase is driven largely by investments in carrier infrastructure and enterprise solutions, reflecting the continued network traffic growth due to video applications and the increasing adoption of cloud computing services, coupled with rising demand for innovative enterprise network technology in a broad range of verticals. Year-on-year, the pick-up is mostly related to higher demand for Ethernet transport solutions for mobile backhaul and enterprise access applications," commented Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking. http://www.advaoptical.com