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ADVA AG Optical Networking Implantate
Exchanges: Frankfurt

The Group's principal activities are to develop, manufacture, market and sell optical networking equipment for carriers, service providers and enterprises. It provides optical networking solutions for the delivery of high-speed data, storage, voice and video services in the metropolitan area. These solutions are used at 71 telecommunications carriers and service providers, including Post Telephone and Telegraph companies, Regional Bell Operating Companies, Local Exchange Carriers and Inter-Exchange Carriers, universities and government agencies worldwide. The Group's portfolio of carrier-class hardware and software products includes FSP 500, FSP 1000, FSP 2000, FSP 3000, FSP-I, FSP-II, FSP Network Manager and FSP Network Planner. The Group has sales from Europe, Middle East, Africa, the Americas and Asia -Pacific.
 

http://www.advaoptical.com


ADVA Optical Networking Reports Q3 2013 Financial Results In Line with Guidance

ADVA Optical Networking (FSE: ADV) announced Q3 2013 financial results for the quarter ended September 30, 2013, and prepared in accordance with International Financial Reporting Standards (IFRS).

October 24, 2013

Q3 2013 revenues at EUR 79.1 million
Q3 2013 IFRS pro forma operating income of EUR 4.0 million (5.0% of revenues)
Q4 2013 revenues expected to range between EUR 71 million and EUR 76 million with IFRS pro forma operating income between 1% and 5% of revenues
Q3 2013 IFRS Financial Results

Revenues totaled EUR 79.1 million in Q3 2013 and were in line with guidance of between EUR 76 million and EUR 81 million. This is down 3.9% vs. Q3 2012 at EUR 82.3 million and up 0.9% vs. EUR 78.4 million in Q2 2013. IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 4.0 million or 5.0% of revenues in Q3 2013, at the upper end of guidance of between 1% and 5% of revenues. This compares to EUR 5.6 million or 6.8% of revenues in Q3 2012 and EUR 1.5 million or 2.0% of revenues in Q2 2013. The quarter-on-quarter increase of pro forma operating income is largely due to higher revenues and lower operational expenses, while the year-on-year decrease is largely due to lower revenues in a weaker demand environment.

The IFRS operating income amounted to EUR 3.5 million in Q3 2013, after EUR 5.1 million in Q3 2012 and EUR 1.2 million in Q2 2013. The key driver for the unfavorable year-on-year development is the above-mentioned decrease of pro forma operating income, while the favorable quarter-on-quarter development is largely due to the increase in pro forma operating income.

The IFRS net income amounted to EUR 2.3 million in Q3 2013, down from EUR 3.5 million in Q3 2012. This reduction was largely driven by the development of the operating result described above, and was partially offset by lower Q3 2013 income tax expenses of EUR 0.8 million vs. the EUR 1.3 million seen in Q3 2012. Basic and diluted IFRS net earnings per share in Q3 2013 were EUR 0.05 after EUR 0.07 in Q3 2012.

“At EUR 79.1 million, our Q3 2013 revenues are in line with guidance and up 0.9% vs. the previous quarter. Pro forma operating margin came in at 5.0%, at the upper end of guidance, largely driven by the stronger revenue development and tight management of operational costs. Furthermore, cash and cash equivalents reached a record high of EUR 80.6 million, and net liquidity increased to EUR 41.4 million at the end of Q3 2013, up EUR 0.8 million vs. the end of the previous quarter, demonstrating our commitment to managing cash and strengthening our balance sheet,” commented Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking.

- See more at: http://www.advaoptical.com/en/about-us/investor-relations/financial-results/investor-relations-press-release-listing/131023.aspx#sthash.cfmUUlv5.dpuf

28.02.2013 ADVA Optical Networking Reports Audited 2012 IFRS Financial Results In Line with Expectations


ADVA Optical Networking announced Q2 2012 financial results for the quarter ended on June 30, 2012, and prepared in accordance with International Financial Reporting Standards (IFRS).

 
•Q4 2012 revenues at EUR 80.3 million, IFRS pro forma operating income of EUR 4.8 million (6.0% of revenues)
•FY 2012 revenues at EUR 330.1 million, IFRS pro forma operating income of EUR 21.8 million (6.6% of revenues)
•Q1 2013 revenues expected to range between EUR 72 million and EUR 77 million with IFRS pro forma operating income between -2% and +2% of revenues
 
Q4 2012 IFRS Financial Results
 

Revenues totaled EUR 80.3 million in Q4 2012 and were in the upper half of guidance of between EUR 77 million and EUR 82 million. Revenues are down 3.8% vs. Q4 2011 at EUR 83.4 million and down 2.4% vs. Q3 2012 at EUR 82.3 million. IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 4.8 million in Q4 2012 or 6.0% of revenues, at the upper end of guidance of between 2% and 6% of revenues. This compares to Q4 2011 IFRS pro forma operating income of EUR 7.4 million or 8.9% of revenues, and to Q3 2012 IFRS pro forma operating income of EUR 5.6 million or 6.8% of revenues. These developments are largely due to lower revenues and increased selling and marketing expenses.
 
The IFRS operating income in Q4 2012 was EUR 4.3 million, down from EUR 6.7 million in Q4 2011. This is due to the above-mentioned reasons for lower pro forma operating income.
 
The IFRS net income in Q4 2012 amounted to EUR 4.1 million after EUR 8.7 million in Q4 2011. Beyond the reduced operating income, net foreign currency exchange losses of EUR 0.1 million in Q4 2012 after gains of EUR 1.9 million in Q4 2011 contributed to this decrease. Basic and diluted IFRS net earnings per share were EUR 0.09 and EUR 0.08, respectively, down from EUR 0.18 each in Q4 2011.

Full-Year 2012 IFRS Financial Results
 

Driven by increased Ethernet access business, revenues rose to a record high of EUR 330.1 million in 2012, 6.2% above the EUR 310.9 million reported in 2011. IFRS pro forma operating income increased from EUR 17.3 million or 5.6% of revenues in 2011 to EUR 21.8 million or 6.6% of revenues in 2012. This improvement is largely due to revenue and gross margin growth.
 
2012 IFRS operating income at EUR 18.8 million also increased significantly from EUR 13.2 million in 2011. The main reason for this positive development is the above-mentioned increase in pro forma operating income and a reduction in amortization of intangible assets from acquisitions from EUR 2.5 million in 2011 to EUR 1.6 million in 2012.
 
Finally, IFRS net income amounted to EUR 16.7 million in 2012, slightly down vs. EUR 16.9 million in 2011. The positive operating income development was mostly compensated by income tax expenses of EUR 1.8 million after income tax benefits of EUR 2.9 million in 2011. Furthermore, net foreign currency exchange gains of EUR 0.8 million in 2012 were lower than the EUR 2.3 million recorded in 2011. Basic and diluted IFRS net earnings per share were EUR 0.35 and EUR 0.34 in 2012, slightly down from EUR 0.36 and EUR 0.35, respectively, in 2011.
 
“We are very pleased with our Q4 2012 results which were achieved in a very volatile macro-economic environment. At EUR 80.3 million, our Q4 2012 revenues are in the upper half of guidance. Our pro forma gross margin strengthened from 39.3% in Q3 2012 and 40.0% in Q4 2011, to 41.8% in Q4 2012. Prior to amortization of capitalized development expenses, pro forma gross margin increased from 44.5% in Q3 2012 and 43.9% in Q4 2011, to 46.7% in Q4 2012. We achieved pro forma operating income of 6.0% of revenues in Q4 2012, at the upper end of guidance, demonstrating our focus on managing operational costs. In addition, cash and cash equivalents were at another record high of EUR 70.6 million at the end of Q4 2012, slightly up from EUR 70.3 million at the end of the previous quarter. Throughout the year, ADVA Optical Networking maintained financial strength, with an equity ratio in excess of 50% and record high net liquidity at the end of every quarter. At year-end 2012, net liquidity was at an all-time high of EUR 41.6 million, up from EUR 41.3 million at the end of Q3 2012. For the full year 2012, through a combination of revenue growth, increased gross margins, and enhanced operational excellence, we were able to further grow profitability. Pro forma operating income grew by 26%, from EUR 17.3 million or 5.6% of revenues in 2011 to EUR 21.8 million or 6.6% of revenues in 2012,” commented Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking.
 - See more at: http://www.advaoptical.com/en/newsroom/press-releases-english/20130228-ir2.aspx#sthash.O1jz1MZB.dpuf


ADVA Optical Networking Reports Q3 2011 Financial Results Above Guidance 

ADVA Optical Networking announced Q3 2011 financial results for the quarter ended September 30, 2011, and prepared in accordance with International Financial Reporting Standards (IFRS).

October 20, 2011

Q3 2011 revenues at EUR 79.3 million
Q3 2011 IFRS pro forma operating income of EUR 5.5 million (6.9% of revenues)
Q4 2011 revenues expected to range between EUR 79 million and EUR 84 million with IFRS pro forma operating income between 6% and 9% of revenues

Q3 2011 IFRS Financial Results

Revenues totaled EUR 79.3 million in Q3 2011 and came in slightly above guidance of between EUR 73 million and EUR 78 million. This compares to EUR 80.5 million in Q3 2010 and is up 1.9% vs. Q2 2011 at EUR 77.8 million. IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 5.5 million or 6.9% of revenues, also above guidance of between 2% and 5% of revenues. This compares to EUR 4.4 million or 5.5% of revenues in Q3 2010 and EUR 3.5 million or 4.5% of revenues in Q2 2011. The increase in pro forma operating income is largely related to higher revenues vs. Q2 2011 and to higher gross margins vs. Q3 2010.

IFRS operating income rose to EUR 4.4 million in Q3 2011, after EUR 3.3 million in Q3 2010. The key driver for this improvement is the above-mentioned increase in pro forma operating income.

In Q3 2011, IFRS net income amounted to EUR 9.7 million, up significantly from EUR 2.4 million in Q3 2010. Beyond the improvement of the operating income, net foreign currency exchange gains of EUR 3.0 million in Q3 2011 after EUR 0.5 million in Q3 2010 drove this development. Further, ADVA Optical Networking reported income tax benefits of EUR 2.7 million in Q3 2011 after income tax expenses of EUR 1.0 million in Q3 2010. The Q3 2011 income tax benefit is due to initial recognition of deferred taxes in ADVA Optical Networking’s U.S. entity. Basic and diluted IFRS net earnings per share were EUR 0.21 and EUR 0.20, after EUR 0.05 each in Q3 2010.
 

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