ADVA Optical Networking Achieves Record Q3 Financial Results
(Thomson Reuters ONE) -
ADVA Optical Networking SE /
ADVA Optical Networking Achieves Record Q3 Financial Results
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* Revenues of EUR 122.3 Million Drive 40.4% Year-on-Year Growth
* Pro Forma Operating Income Rises to EUR 9.6 Million (7.8% of Revenues)
* Operating Income Increases 174% on 2014 Figures
Munich, Germany. October 22, 2015. ADVA Optical Networking (FSE: ADV; Prime
Standard Segment, TecDAX) announced Q3 2015 financial results for the quarter
ended on September 30, 2015 and prepared in accordance with International
Financial Reporting Standards (IFRS).
Q3 2015 IFRS Financial Results
Quarterly revenues climbed to a record of EUR 122.3 million. The Q3 2015 figure
marks an all-time high for the company and sees year-on-year (YoY) growth leap
by 40.4% (Q3 2014: EUR 87.1 million). Net profit nearly doubled to EUR 8.6
million (Q3 2014: EUR 4.4 million). Today's figures are in the middle of the
guidance forecast that was announced earlier this year on July 23.
The significant increase in revenues and YoY net profit was due to several
factors: the demand for data center interconnect (DCI) technology, the continued
push for 100G metro solutions and the rebound in European carrier and enterprise
spend.
Pro forma operating income in Q3 2015 rose substantially to EUR 9.6 million or
7.8% of revenues, which marks a 173% YoY increase (Q3 2014: EUR 3.5 million) and
is at the upper end of the previously announced guidance. The operating income
climbed to EUR 8.5 million. This figure is a 174% increase YoY (Q3 2014: EUR
3.1 million).
The Q3 results place ADVA Optical Networking in a financially strong position
with cash and cash equivalents at EUR 79.3 million. What's more, net liquidity
is at a record high of EUR 50.1 million, while working capital reached EUR 90.0
million. This positive development provides considerable operational flexibility
for the company.
"Q3 was an outstanding quarter. We delivered revenues of EUR 122.3 million - a
quarterly record for our company," said Brian Protiva, CEO, ADVA Optical
Networking. "This shouldn't come as any surprise. We've built a lot of momentum
and seen strong growth throughout the year. One of the keys to our success is
our focused innovation. Our business teams are working closely with customers to
develop products that they want to buy. You only need to look at our work in the
DCI market to see evidence of this. Our technology is leading the field. Another
clear example of this success is the 100G metro space. We were the first vendor
to address this market and we expect to see further exciting developments here.
There can be no question that we're more competitive now than we've ever been."
Additional Key Data
(in thousands of EUR) Q3 Q3 Change Q2 Change
2015 2014 2015
---------------------------------------------------------------------
Revenues 122,322 87,131 +40.4% 112,260 +8.9%
---------------------------------------------------------------------
Pro forma gross profit 42,353 30,799 +37.5% 38,668 +9.5%
in % of revenues 34.6% 35.3% -0.7pp 34.4% -0.2pp
---------------------------------------------------------------------
Pro forma operating income 9,599 3,514 +173.2% 7,671 +25.1%
in % of revenues 7.8% 4.0% +3.8pp 6.8% +1.0pp
---------------------------------------------------------------------
Operating income 8,475 3,088 +174.5% 7,422 +14.2%
---------------------------------------------------------------------
Net income 8,577 4,441 +93.1% 5,126 +67.3%
---------------------------------------------------------------------
(in thousands of EUR) Sep. 30, Sep. 30, Change Jun. 30, Change
2015 2014 2015
---------------------------------------------------------------------
Cash and cash equivalents 79,269 82,642 -4.1% 78,819 +0.6%
Net liquidity 50,080 46,101 +8.6% 47,507 +5.4%
*Potential differences due to rounding
Pro forma financial numbers exclude non-cash charges related to the stock
compensation programs and amortization and impairment of goodwill and
acquisition-related intangible assets.
Q4 2015 Outlook
In Q4 2015, ADVA Optical Networking expects revenues to range between EUR 107
million and EUR 117 million and anticipates a pro forma operating income of
between 6% and 9% of revenues. ADVA Optical Networking performs quarterly
reviews of the expected business development with respect to all intangible
assets, including capitalized development expenses. In case of adverse business
prospects, these reviews may result in non-cash impairment charges in Q4 2015
and beyond, which are excluded from the above guidance. The company will publish
its Q4 2015 financial results on February 25, 2016.
# # #
Conference Call Details
In conjunction with the release of its Q3 2015 financial results on October
22, 2015, ADVA Optical Networking will host a conference call for analysts and
investors at 3:00 p.m. CEST / 9:00 a.m. EDT. Participating in the call will be
ADVA Optical Networking's CEO, Brian Protiva, and CFO, Ulrich Dopfer. Interested
parties may dial in at +49 69 22 22 29 043 or +1 855 402 77 66, pin code
86473684#, and download the corresponding presentation from ADVA Optical
Networking's website, located on the "Financial Results" page under "Conference
Calls" in the investor relations section of ADVA Optical Networking's website at
www.advaoptical.com.
The complete 2015 Nine-Month Report (January - September) is available as a PDF
on our website: www.advaoptical.com via the links About Us - Investor Relations
- Financial Results.
# # #
Forward-Looking Statements
The economic projections and forward-looking statements contained in this
document relate to future facts. Such projections and forward-looking statements
are subject to risks which cannot be foreseen and which are beyond the control
of ADVA Optical Networking. ADVA Optical Networking is therefore not in a
position to make any representation as to the accuracy of economic projections
and forward-looking statements or their impact on the financial situation of
ADVA Optical Networking or the market in the shares of ADVA Optical Networking.
Use of Pro Forma Financial Information
ADVA Optical Networking provides consolidated pro forma financial results in
this press release solely as supplemental financial information to help
investors and the financial community make meaningful comparisons of ADVA
Optical Networking's operating results from one financial period to another.
ADVA Optical Networking believes that these pro forma consolidated financial
results are helpful because they exclude non-cash charges related to the stock
option programs and amortization and impairment of goodwill and acquisition-
related intangible assets, which are not reflective of the Company's operating
results for the period presented. This pro forma information is not prepared in
accordance with IFRS and should not be considered a substitute for historical
information presented in accordance with IFRS.
About ADVA Optical Networking
At ADVA Optical Networking we're creating new opportunities for tomorrow's
networks, a new vision for a connected world. Our intelligent telecommunications
hardware, software and services have been deployed by several hundred service
providers and thousands of enterprises. Over the past twenty years, our
innovative connectivity solutions have helped to drive our customers' networks
forward, helped to drive their businesses to new levels of success. We forge
close working relationships with all our customers. As your trusted partner we
ensure that we're always ready to exceed your networking expectations. For more
information on our products and our team, please visit us at:
www.advaoptical.com.
Published By:
ADVA Optical Networking SE, Martinsried/Munich and Meiningen, Germany
www.advaoptical.com
For Press:
Gareth Spence
t +44 1904 699 358
public-relations(at)advaoptical.com
For Investors:
Stephan Rettenberger
t +49 89 890 665 854
investor-relations(at)advaoptical.com
This announcement is distributed by GlobeNewswire on behalf of
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ADVA Optical Networking SE via GlobeNewswire
[HUG#1960641]
Unternehmensinformation / Kurzprofil:
Datum: 22.10.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 428656
Anzahl Zeichen: 10192
contact information:
Town:
Martinsried/Munich
Kategorie:
Business News
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