ADVA Optical Networking announced Q1 2012 financial results for the quarter ended on March 31, 2012, and prepared in accordance with International Financial Reporting Standards (IFRS).

Revenues totaled EUR 81.7 million in Q1 2012 and came in within guidance of between EUR 79 million and EUR 83 million. This is up 16.1% vs. Q1 2011 at EUR 70.4 million and is down slightly vs. EUR 83.4 million in Q4 2011. IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 4.5 million or 5.5% of revenues, above guidance of between 2% and 5% of revenues. This compares to EUR 0.9 million or 1.3% of revenues in Q1 2011 and EUR 7.4 million or 8.9% of revenues in Q4 2011. The year-on-year increase in pro forma operating income is largely related to higher revenues and stronger gross margins, while the quarter-on-quarter decline in pro forma operating income is mostly due to lower revenues and reduced income from the capitalization of development expenses.

IFRS operating income rose to EUR 3.5 million in Q1 2012, after a loss of EUR 0.3 million in Q1 2011. The key driver for this improvement is the above-mentioned increase in pro forma operating income.

ADVA Optical Networking