Germany's Adva withdraws 2020 outlook

Adtran Networks SE

23/04/2020 06:20

April 23 (Reuters) - German telecommunications equipment
company Adva Optical Networking  ADAG.DE  said on Thursday it
was not able to predict the course of business for 2020 and
withdrew its previous outlook, citing uncertainties about the
further course of the coronavirus crisis and its effects on the
company's business.
    Adva's previous expectations for 2020 included revenues
growing to more than 580 million euros ($628 million) with an
increased pro forma operating income of more than 5% of
revenues, as well as a negative pro forma operating income
margin.
    The company reported a net loss of 7.2 million euros in the
first quarter, compared with a profit of 1 million euros a year
ago.

($1 = 0.9240 euros)

 (Reporting by Bartosz Dabrowski in Gdansk; Editing by Raju
Gopalakrishnan)
 ((bartosz.dabrowski@thomsonreuters.com; +48 587720995;))