ADVA Optical Networking SE announces Q3 2020 financial results and releases new guidance for full year 2020
Revenues in the third quarter of 2020 were EUR 146.7 million, up 1.6% from the year-ago quarter (Q3 2019: EUR 144.3 million). The pro forma operating income increased by 49.5% to EUR 11.1 million (Q3 2019: EUR 7.4 million) amounting to 7.5% of revenues compared to 5.1% in the year-ago quarter.
Based on the financial results for the third quarter and the current assumptions about business development in the fourth quarter of 2020, the management board of ADVA Optical Networking SE (ISIN: DE0005103006 FSE: ADV) today released new guidance for the 2020 financial year.
The management board now expects revenues between EUR 565 million and EUR 580 million and a pro forma operating income between 5% and 6% as a percentage of revenues for the full year 2020.
For the remainder of 2020 financial year, the further course of the global infection rates and associated further possible lockdown scenarios will be decisive. The new forecast assumes that the consequences of the Covid-19 pandemic will not intensify over the course of the year and that there will be no material delivery bottlenecks due to new lockdowns.
The management board has withdrawn the sales and profitability forecast for the full year 2020 contained in the company’s 2019 annual report due to the high level of uncertainty about the further course of the Covid-19 crisis and its effects on ADVA’s business. Originally, the company had forecast increasing revenues of more than EUR 580 million with an increased pro forma operating result of more than 5% of revenues.
The quarterly statement for the third quarter and the nine-month period 2020 will be published as planned on October 22, 2020.
ADVA is a company founded on innovation and focused on helping our customers succeed. Our technology forms the building blocks of a shared digital future and empowers networks across the globe. We’re continually developing breakthrough hardware and software that leads the networking industry and creates new business opportunities. It’s these open connectivity solutions that enable our customers to deliver the cloud and mobile services that are vital to today’s society and for imagining new tomorrows. Together, we’re building a truly connected and sustainable future. For more information on how we can help you, please visit us at www.adva.com.
ADVA Optical Networking SE, Munich, Germany
Notifying person and contact for investors:
Senior Vice President, Marketing and Investor Relations
t +49 89 890 665 854
Contact for press:
t +44 1904 699 358
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Wipro to Deliver Agile Customer Engineering Services to Verifone Inc2.12.2020 15:18:00 EET | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has won a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. Wipro will develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company. Leveraging its global engineering support team, Wipro will accelerate time-to-market for Verifone assisting it to transform its customer partnerships. “Buying patterns have been disrupted by the pandemic and the payment industry is undergoing an overhaul, accelerated by the cashless economy and contactless payments. We look forward to supporting Verifone navigate this upward trend and bring enhanced value through our deep expertise in Cloud Engineering offerings,” said Harmeet Chauhan, Senior Vice Presid
Transphorm’s SuperGaN Gen V FET Delivers World’s Lowest Packaged On-resistance, Targeting Electric Vehicle Applications2.12.2020 14:00:00 EET | Press release
Transphorm Inc. (OTCQB: TGAN)—a pioneer and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products—announced today the sampling of its first Gen V device under its proprietary SuperGaNTM brand. The TP65H015G5WS, Transphorm’s new Gen V device, targets the Electric Vehicle (EV) market and provides industry-leading performance enhancements, ease of designability, and optimized cost structure that is inherent to the SuperGaN device family. Notably, the Company’s Gen V GaN solution offers the world’s lowest packaged on-resistance and delivers a 25% lower power loss over Silicon Carbide (SiC) in a standard TO-247-3 package, strengthening the potential of GaN in the EV power conversion market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201202005276/en/ Lowest Rds(on) SuperGaN™ FET in a TO-247 package from Transphorm poised for growth in EV market. (Graphic: Business Wire) In March
Curo Fund Services Goes Live With SmartStream’s Post Trade Processing Solution2.12.2020 12:00:00 EET | Press release
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Curo Fund Services in South Africa, has gone live with TLM Aurora Trade Process Control - consolidating infrastructures across asset classes and business lines, ensuring all trade processing, proactive executions management, through to settlement, are based on verified data - enhancing cost efficiencies and regulatory compliance. Curo Fund Services required a solution to further control and provide visibility of its trade processing requirements and to replace multiple silos for a structured end-to-end solution. SmartStream’s TLM Aurora Trade Process Control will support the entire transaction lifecycle from the point of deal capture through to allocation, confirmation and settlement. By introducing greater automation and enhancing control, the product will assist in lowering operational risk and cost, as well as managing market volatility and meeting buy-side regula
ADVA recognized as an Intel Network Builders Winners’ Circle Leaders Board partner2.12.2020 11:00:00 EET | Press release
ADVA (FSE: ADV) today announced that it has been awarded Leaders Board status in the Intel Network Builders Winners’ Circle for the second year running. The accolade recognizes the value of ADVA’s Ensemble Connector, a carrier-class NFV platform widely deployed in service provider and enterprise networks across the world. As a verified Intel Select Solution for uCPE, Ensemble Connector offers customers several key benefits, including platform security, zero-touch provisioning and access to the market’s widest library of virtual network functions. Pre-integrated with Intel Xeon D processors, Ensemble Connector provides an optimized and ready-to-deploy hardware-software solution. “We’re delighted to once again be on the Leaders Board of the Intel Network Builders Winners’ Circle. Being recognized for outstanding innovation highlights the extraordinary progress we’ve made with virtualization deployments in live networks,” said James Buchanan, GM, Edge Cloud, ADVA. “As an open platform for
Global Bubble Tea Brand Investing Aggressively in Europe Expansion2.12.2020 11:00:00 EET | Press release
Gong cha, one of the world’s most recognized Taiwanese tea brands, today announced that it is actively seeking additional franchisees across Europe. The company is aggressively seeking to further grow its presence as part of a broader global expansion. A staple throughout Asia with a loyal following since the 1980s, Gong cha bubble tea has become a daily treat for in-the-know consumers across the world. According to Allied Market Research, the European bubble tea market is over $300 million in size and growing at 9% per year. With relatively low investment to open new stores and an attractive business model, Gong cha franchisees have thrived. The company employs a mostly take-out model, offering bubble tea through delivery as well as in-store pickup. Despite the global pandemic, new stores have continued to open around the world, including a new store in Liverpool, England. Gong cha now has stores in 19 countries with over 1,300 locations. Recently acquired by TA Associates, a leading
Deenova Bolsters Its 2020 Market Momentum in Pharmacy Automation With Entry Into Poland2.12.2020 10:00:00 EET | Press release
Deenova announced today that in continuing its meteoric 2020 business boom, it made its first foray into Eastern Europe with new contracts for delivery of its market leading pharmacy robots and related technologies to Greater Poland Children's Health Centre in Poznań, with Polish leading equipment company MEDIM in Piaseczno. Piotr Młynarczyk, MEDIM General Manager, stated: “After a long search on a competitive sales process that thoroughly searched all options for pharmacy unit dose robots, I am very proud to select Deenova for partnership in the project at Greater Poland Children's Health Centre in Poznań. We chose Deenova solutions, mainly because of their unique technology and business approach to R.O.I.” Christophe Jaffuel, Deenova Chief Commercial Officer, added: “I am extremely excited to have been selected by Greater Poland Children's Health Centre in Poznań, and Poland medical technology leader MEDIM, especially after their extensive experience comparing and contrasting Deenova
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom