Brief: ADVA Optical Expects Profit Reduction Due To Delivery Shortages Caused By COVID-19

Adtran Networks SE

18/02/2020 20:32

Feb 18 (Reuters) - ADVA Optical Networking SE  ADAG.DE :
    * DGAP-ADHOC: ADVA OPTICAL NETWORKING SE EXPECTS PROFIT
REDUCTION
DUE TO DELIVERY SHORTAGES CAUSED BY COVID-19 AND CHANGES
GUIDANCE PERIODS
    * MANAGEMENT BOARD DECIDED TO CHANGE REVENUE AND
PROFITABILITY
GUIDANCE FROM QUARTERLY TO ANNUAL PERIODS
    * ADVA OPTICAL NETWORKING -DUE TO CORONAVIRUS,EVIDENT
QUARTERLY
GUIDANCE SUBJECT TO HIGH FLUCTUATIONS DUE TO TEMPORARY
UNCERTAINTIES OR EXTERNAL FACTORS
    * ADVA OPTICAL NETWORKING - EXPECTS REVENUES TO INCREASE ON
AN
ANNUAL BASIS AND EXCEED EUR 580 MILLION FOR FULL YEAR 2020
    * EXPECTS PRO FORMA OPERATING INCOME TO INCREASE FURTHER AND
EXCEED 5% OF REVENUES IN FY 2020
    * BASED ON CURRENT SITUATION IN CHINA, MANAGEMENT BOARD
EXPECTS
SHORTAGES IN ADVA'S SUPPLY CHAIN
    * MANAGEMENT BOARD BELIEVES VIRUS IMPACT WILL MOST LIKELY
LEAD TO
A NEGATIVE PRO FORMA OPERATING INCOME MARGIN FOR Q1 2020
    * REVENUES FOR Q4 2019 INCREASED BY 4.7% TO EUR 151.1
MILLION FROM
EUR 144.3 MILLION IN Q3 2019
    * ADVA OPTICAL NETWORKING - Q4 2019 PRO FORMA OPERATING
INCOME WAS
EUR 10.3 MILLION (6.8% OF REVENUES) ABOVE EUR 8.1 MILLION (6.2%
OF REVENUES) YEAR-AGO

Source text for Eikon:  ID:nEQ4r4PK2a 
Further company coverage:  ADAG.DE 

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