CN
EN7/22/2016, German optical transmission equipment manufacturer ADVA today announced the 2 quarter ended June 30th earnings. IFRS financial sense, ADVA sales in the quarter reached a record 157 million 200 thousand euros, an increase of more than 40.1%, more than previously expected.
ADVA CEO Brian Portiva said that Q2 results are satisfactory, ADVA's market share has been improved, their efforts in the DCI market results. In fact, ADVA is one of the very few companies in the market to outperform the market. ADVA is actively exploring new markets.
Form of financial significance in the quarter ADVA operating profit of 4 million 200 thousand euros, compared with the same period last year, a decrease of 3 million 500 thousand euros, also in line with previous expectations. Operating profit of 3 million 100 thousand euros in the quarter, the same period last year was €7 million 400 thousand. At the end of the quarter, there were 82 million 500 thousand euros in cash and equivalents. Net current assets reached 20 million euros, net working capital of EUR 102 million 700 thousand.
This quarter's results include the acquisition of Overture's revenue and expenses. Acquisition has been completed in January 13th. Brian Protiva said the acquisition of Overture integration is nearing completion. Overture hardware business has been integrated into the ADVA cloud access product line. In the future, ADVA will set up a new strategic division for NFV business Ensemble. ADVA is leading in this field for 12 months
The first half of revenue 279 million 200 thousand euros, an increase of 34.3% over the same period last year. Which Overture part of the income of 15 million 600 thousand euros. Remove this part of the business, ADVA business grew 26.8% in the first half. The first half of the gross margin of 29.5% ADVA, a year ago was 35.2%.
Looking forward to the next quarter, ADVA expects sales of between 150 million and 160 million euros, is expected to form the operating margin of between 3% to 6%.