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ADVA Optical Networking swings to loss in Q1

ADVA Optical Networking SE said its normalized net income for the first quarter came to a loss of 7 euro cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

The per-share result swung to a loss from the prior-year profit of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €3.3 million, compared with income of €3.2 million in the year-earlier period.

The normalized profit margin dropped to negative 2.7% from 3.4% in the year-earlier period.

Total revenue rose 27.6% on an annual basis to €122.0 million from €95.6 million, and total operating expenses climbed 31.1% from the prior-year period to €121.0 million from €92.3 million.

Reported net income came to a loss of €4.9 million, or a loss of 10 cents per share, compared to income of €4.4 million, or 9 cents per share, in the prior-year period.