While service provider's spending cutbacks have hurt much of the telecom equipment industry, ADVA Optical Networking held its own in Q1 2010.
ADVA Optical Networking's Q1 2010 revenues of $83.7 million were above guidance of $75.5 million and $82.1 million, a 10.9 percent increase over Q1 09 at $75.3 million and up six percent vs. $78.9 million in Q4 2009.
Similar to Q4 09, Ethernet access was once again the company's shining product gem in Q1 2010. A major contributor to its Ethernet success was sales in the EMEA region where revenues grew 12.5 percent to $59.5 million. Not far behind EMEA were te Asia Pacific and the Americas. While revenues in the Americas rose from $16.8 million in Q1 2009 to EUR $18.6 million in Q1 2010, Asia-Pacific revenues declined slightly from $5.82 million in Q1 2009 to $5.5 million in Q1 2010.
Going forward, ADVA Optical Networking believes that the Optical Ethernet metro network market will grow 13 percent this year and by an average of 15 percent per year through 2012. ADVA's bet on Optical Ethernet is based on two trends. Service providers are not expanding their triple play service sets for consumers, but they are finding more of their enterprise customer base looking to transition from legacy ATM and Frame Relay to Ethernet for their multi-site businesses.
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