[May 06, 2013] ADVA reports lower Q1 net income, provides outlook for Q2 Tweet May 06, 2013 (Datamonitor via COMTEX) -- ADVA Optical Networking, a provider of network equipment for data, storage, voice and video services, has reported that net income for the first quarter of 2013 was E760,000, or E0.02 per diluted share, compared to E4.04 million, or E0.08 per diluted share for the same quarter of 2012. The company expects revenues to range between E73 million and E78 million for the second quarter of 2013. Revenues for the first quarter of 2013 were E77.03 million, compared to E81.66 million for the same quarter of 2012. Operating income for the first quarter of 2013 was E382,000, compared to E3.51 million for the same quarter of 2012. Pro forma gross profit for the first quarter of 2013 was E29.77 million, compared to E32.27 million for the same quarter of 2012. Further, ADVA Optical Networking anticipates Q2 2013 pro forma operating income to range between -2% and +2% of revenues. Jaswir Singh, CFO & COO of ADVA Optical Networking, said: "While the temporary decline of our business related to short-term market weakness driven by adverse macro-economic conditions and temporary shifts in carrier investment priorities clearly is a disappointment, we are still pleased to report our Q1 2013 revenues of E77 million at the upper end of guidance. "Our pro forma gross margin decreased from 41.8% in Q4 2012 to 38.6% in Q1 2013, due to quarterly variations in product and customer mix. In Q1 2013, our pro forma operating margin came in at 1.0% in the upper half of guidance, demonstrating our focus on managing operational costs in this challenging environment. Also, operating cash flow at E1.7 million in Q1 2013 remained positive, and our quarter-end cash & cash equivalents and net liquidity of E65.3 million and E36.3 million, respectively, demonstrate ongoing financial strength." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ]