ADVA Optical Networking saw its third quarter revenue drop 22.9 percent from the second quarter to £99 Million.
In the second quarter ADVA made £128.72 in Q2 2017. This marks a decrease of 30.3 percent year-on-year but is about what was expected as the outfit has been doing some serious restructuring. It has also consolidated its product portfolios
ADVA Optical Networking CEO Brian Protiva said that the third quarter was one of the most challenging in the company’s history.
“We had to lower our guidance within a financial quarterly period for the first time since Q2, 2008. Nevertheless, the integration of MRV Communications is progressing very well. We have implemented much of the planned restructuring measures, updated our roadmaps and aligned our product portfolios, development teams and sales focus. All this provides us with a solid basis for a return to growth and profitability in 2018.”
ADVA Optical Networking CFO Uli Dopfer said that the company had also suffered from the drop-in revenues from two major customers during the acquisition process of MRV.
“However, we responded at once and adjusted our cost structure to the current sales level without jeopardizing any activities that are important for our future
In Q4 2017, ADVA Optical Networking expects revenues to range between £102 million and £116 million and anticipates a pro forma operating income of not very much at all.
