AFC Reports Revenue of $83 Million

Advanced Fibre Communications (AFC) announced Q2 revenue of $83.0 million on a GAAP basis, compared with $80.5 million in the preceding quarter and $86.3 million for Q2 2002. Net income for Q2 2003 was $3.3 million, or $0.04 per share, compared with $8.3 million, or $0.10 per share, in Q1 2003. ALLTEL and Sprint were each 10% customers in the quarter. AFC said service providers will remain cautious about spending in the near term, but that investment in the access network will be a key focus for carriers in the future as they roll out DSL and Fiber to the Premise (FTTP).
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