ADVA Optical Networking announced financial results for its 2017 second quarter ended on June 30, 2017 which show quarterly revenues increased to EUR 144.2 million from EUR 141.8 in Q1 2017.
This marks a decrease of 8.3 percent year-on-year but is within the guidance announced on April 27, 2017.
Operating income in Q2 2017 stood at EUR 9.2 million or 6.4 percent of revenues, up from EUR 6.6 million or 4.7 percent of revenues in Q1 2017.
This number represents a EUR five million YoY increase and is also within previously announced guidance. The operating income amounted to EUR 8.1 million. Cash and cash equivalents totalled EUR 80.8 million. Net liquidity reached EUR 30.8 million and net working capital EUR 100.3 million.
Brian Protiva, CEO, ADVA Optical Networking said that “it was an exciting and turbulent time for the networking industry.”
“It’s a time of incredible contrasts. On one side, cloud and mobility continue to be mega growth drivers driving demand for more bandwidth. On the other hand, our industry continues to face pricing pressure and fierce competition creating the need for further consolidation. Our bid to acquire MRV Communications will enable us to expand our customer footprint, expand our market leadership in Ethernet access devices and expand our portfolio of packet optical solutions. The combined product portfolio will be supported by our continued commitment to operational excellence providing our customers with response times that are unmatched in the industry. Our world-class engineering team, the agility of our organization and our customer focus give us a solid foundation for further growth and profitability.”
