ADVA Optical Networking fared well in Q4 09 as it reported that revenues totaled $81 million, coming slightly above the $77.2 million it gained in Q4 2008 and $79 million in Q3 09.
Prepared in accordance with International Financial Reporting Standards (IFRS), ADVA Optical Networking's pro forma income, excluding stock-based compensation and amortization and impairment of goodwill and acquisition-related intangible assets, was $4.2 million in Q4 2009 or 5.2 percent of revenues, also above guidance of between -1 percent and +4 percent of revenues.
A big contributor to the company's success for the whole year 2009 was a rise in Ethernet access and carrier infrastructure sales. Those segments produced $316.7 million in 2009, which is 7 percent higher than the $296 million it reported in 2008.
"Despite the financial crisis and a depressed macro-economic environment, 2009 was a very successful year for ADVA Optical Networking: We returned to profitable growth, increased our financial strength, further improved our operational efficiency, ramped up our direct relationships with customers and maintained a market-leading position. Most importantly, we drove innovation, an element crucial to our long-term success," said Brian Protiva, chief executive officer of ADVA Optical Networking in a release.
While maintaining a cautious outlook for 2010, ADVA Optical expects revenues to range between $77.5 million and EUR $84 million. Protiva added that in 2010, the company "will face a telecommunications industry that is growing incredibly dynamically and is critical for most applications and industries. Bandwidth-hungry Internet applications require massive investments in carrier infrastructure, and the increase in mobile devices as the primary platform for the future delivery of broadband services will create a significant need for high-capacity backhaul networks."
- see the release here
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