Brief: Adva Q1 Net Profit Turns To Loss Of EUR 7.2 Million

Adtran Networks SE

23/04/2020 06:17

April 23 (Reuters) - ADVA OPTICAL NETWORKING SE  ADAG.DE :
    * Q1 REVENUE ROSE 3.5 PERCENT TO 132.7 MILLION EUR
    * Q1 NET LOSS -7.2 MILLION EUR VERSUS 1.0 MILLION EUR PROFIT
YEAR
AGO
    * Q1 QUARTERLY REVENUES UP 3.5% YEAR-OVER-YEAR TO EUR 132.7
MILLION
    * Q1 PRO FORMA OPERATING INCOME OF NEGATIVE EUR 1.7 MILLION
(-1.3%
OF REVENUES)
    * NET LOSS OF EUR 7.2 MILLION IN Q1 2020 THAT DECREASED
SIGNIFICANTLY FROM A NET INCOME OF EUR 2.5 MILLION IN Q4 2019
    * HAS CONCLUDED THAT GUIDANCE OF FEBRUARY 20, 2020, OUTLINED
IN
2019 ANNUAL REPORT CANNOT BE UPHELD AND THEREFORE WITHDRAWS
PREVIOUS OUTLOOK FOR 2020 FINANCIAL YEAR
    * ORIGINALLY, COMPANY HAD FORECASTED INCREASING REVENUES TO
MORE
THAN EUR 580 MILLION WITH AN INCREASED PRO FORMA OPERATING
INCOME OF MORE THAN 5% OF REVENUES

Source text for Eikon:  ID:nBw6mb9CLa 
Further company coverage:  ADAG.DE 

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