Current Press Release
ADVA Optical Networking adjusts Q2 revenue and profitability guidance
Q2 2008 revenues forecasted to be between EUR 50 million and EUR 52 million, down from previous guidance
IFRS Q2 2008 pro forma operating income forecasted to be between -3% and 0% of revenues, including restructuring charges,down from previous guidance
Book-to-bill ratio expected to be above 1 in Q2 2008
June 30, 2008.
ADVA Optical Networking today adjusted its Q2 2008 revenue and profitability guidance.
Q2 2008 REVENUE GUIDANCE
Revenues in Q2 2008 are forecasted to range between EUR 50 million and EUR 52 million, down from previous guidance of between EUR 55 million and EUR 59 million. The adjustment became necessary due to the decision by two major customers to defer scheduled purchases to later in 2008.
ADVA Optical Networking expects its Q2 2008 book-to-bill ratio to be greater than 1, indicating overall growth.
Q2 2008 IFRS PRO FORMA OPERATING INCOME GUIDANCE
Including scheduled restructuring charges of EUR 1.4 million, IFRS pro forma operating income in Q2 2008 is forecasted to range between -3% and +0% of revenues, down one percentage point from previous guidance of between -2% and +1% of revenues. Excluding restructuring charges, IFRS pro forma operating income is expected to range between -1% and +2% of revenues, also down one percentage point from previous guidance of between 0% and +3% of revenues. IFRS pro forma operating income excludes stock-based compensation and amortization and impairment of goodwill and acquisition-related intangible assets. The adjustment is driven by the revenue weakness described above, but is partially offset by better gross margins due to a more favorable customer and product mix.
Q3 2008 OUTLOOK
ADVA Optical Networking will publish its Q2 2008 financial results on August 5, 2008. The Company will also release its revenue and IFRS pro forma operating profitability guidance for Q3 2008 on the same date.
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