ADVA Optical Networking reported Q3 20111 revenues of EUR 79.3 million, 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.
“We are extremely pleased with our Q3 2011 revenues of EUR 79.3 million, which slightly exceed guidance and are up 1.9% vs. the previous quarter. For the most part, this development is driven by increased Ethernet access business, largely due to initial significant carrier investments for mobile backhaul solutions. Our pro forma gross margin increased from 43.0% in Q2 2011 and 40.0% in Q3 2010 to 43.5% in Q3 2011,” stated Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking. http://www.advaoptical.com
