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ots Ad hoc-Service: ADVA AG <DE0005103006> ADVA Reports Strong Momentum in 3rd Quarter 2000 Sales

Martinsried/Munich (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
ADVA Optical Networking
(German Neuer Markt: ADV), a leading global provider of optical
networking solutions, today announced continuing strong momentum in
quarterly sales for the third quarter 2000, which ended September 30,
2000.
Sales for the third quarter 2000 reached a record 19.9 million
Euro (17.6 million USD), an increase of 193% over the same period of
the prior year (Q3 1999: 6.8 million Euro / 6.0 million USD). Pro
forma operating income, excluding purchased in-process R&D,
amortization of goodwill, and depreciation of purchased intangible
assets relating to acquisitions, as well as non-cash charges related
to the stock option programs, totaled 0.4 million Euro (0.3 million
USD) during the third quarter 2000, compared to 0.2 million Euro (0.1
million USD) during the same period of the prior year. ADVA achieved
a higher pro forma operating income despite ongoing significant
investments in research and development to support long-term growth.
Pro forma net profit totaled -0.5 million Euro (-0.4 million USD)
in the third quarter 2000, compared to 0.2 million Euro (0.2 million
USD) during the same period of the prior year. Pro forma diluted
earnings per share totaled -0.01 Euro (-0.01 USD) in the third
quarter 2000, compared to 0.01 Euro (0.01 USD) during the same period
of the prior year. During the third quarter 2000, ADVA successfully
completed the acquisitions of First Fibre Ltd. ("First Fibre") and
the Siemens Norway Telecom R&D Team for a combined purchase price of
approximately 94 million Euro, and took significant one- time charges
as write-offs of purchased in-process R&D under U.S. GAAP. Actual net
profit for the third quarter 2000 therefore was -30.9 million Euro
(-27.3 million USD), compared to -0.4 million Euro (-0.3 million USD)
during the same period of the prior year. Diluted earnings per share
equaled -0.92 Euro (-0.81 USD) for the third quarter 2000, compared
to -0.01 Euro (-0.01 USD) during the same period of the prior year.
Sales for the first nine months of 2000 reached 47.4 million Euro
(41.8 million USD), an increase of 213% over the same period of the
prior year (first nine months of 1999: 15.1 million Euro / 13.3
million USD). Pro forma operating income totaled 1.1 million Euro
(1.0 million USD) during the first nine months of 2000, compared to
0.8 million Euro (0.7 million USD) during the same period of the
prior year. Pro forma net profit totaled 1.1 million Euro (1.0
million USD) during the first nine months of 2000, compared to 0.1
million Euro (0.1 million USD) during the same period of the prior
year. Actual net income for the first nine months of 2000 was -44.1
million Euro (-38.9 million USD) compared to -1.3 million Euro (-1.1
million USD) during the same period of the prior year. Diluted
earnings per share equaled -1.32 Euro (-1.17 USD) for the first nine
months of 2000, compared to -0.04 Euro (-0.04 USD) during the same
period of the prior year.
Third quarter sales momentum The strong third quarter sales were
the result of continued high demand for ADVA's Fiber Service Platform
(FSP)-II product, further penetration of ADVA's Fortune 1,000
enterprise customer target group, growing sales to service provider
customers and the addition of new sales channels.
FSP-II was the top-selling product during the first nine months of
2000. Sales in both the Europe/Middle East/Africa ("EMEA") region and
the Americas were strong during the first nine months of 2000,
reaching 49% and 48% of sales, respectively. Sales in the EMEA region
were particularly strong during the third quarter of 2000, reflecting
growing demand by service providers. Sales in Asia-Pacific totaled
3%. ADVA continues to heighten its geographic reach as part of its
sales strategy, establishing a presence in China, Mexico and Chile.
Net One Systems Co., Ltd. joined ADVA's growing global network of
value-added resellers.
ADVA's complete financial statements and report for the first nine
months of 2000, as well as the 1999 annual report, can be found on
its website at www.advaoptical.com. Full-year 2000 financial results
will be published on March 26, 2000.
About ADVA Optical Networking ADVA Optical Networking is a leading
global provider of optical networking solutions to deploy, manage and
deliver communication networks and high-speed services for the
metropolitan area and enterprise markets. Visit www.advaoptical.com
for more information about ADVA Optical Networking.
************************
The economic projections and forward-looking statements contained
in this document relate to future facts. Such projections and
forward-looking statements are subject to risks which cannot be
foreseen and which are beyond the control of ADVA AG Optical
Networking. ADVA AG Optical Networking is therefore not in a position
to make any representation as to the accuracy of economic projections
and forward-looking statements or their impact on the financial
situation of ADVA AG Optical Networking or the market in the shares
of ADVA AG Optical Networking.
************************
Published by:
ADVA AG Optical Networking, Martinsried/Munich and Meiningen, Germany
ADVA Optical Networking Inc., Ramsey/New Jersey, USA
www.advaoptical.com
For Investors and Financial Press:       For Trade Press:
Alexa M. Schmidt                         Elizabeth Sayer
Tel. +49/89/89 577 161 (Europe)          Tel. +44/1904 699 328
(Europe)
Tel. +1/201/995 0080 (U.S.)              Tel. +1/646/321 2646 (U.S.)
Email:investor-relations@advaoptical.com       
                               Email:public-relations@advaoptical.com
Pro forma condensed consolidated financial results The pro forma
income statement has been calculated to illustrate ADVA's operating
performance prior to the effects of purchased in-process R&D,
amortization of goodwill, depreciation of purchased intangible
assets, and non-cash charges related to the Company's stock option
programs. The following statements are prepared according to U.S.
GAAP for the fiscal period ending September 30, and are unaudited.
(in thousands of Euro, except per-share amounts)
                         Q3 2000     Q3 1999     9M 2000     9M 1999
Sales                     19,890       6,800      47,370      15,116
Operating income             361         163       1,148         770
Net profit                  -475         239       1,146          59
Diluted earnings
per share (EPS)            -0.01        0.01        0.03           0
The above pro forma amounts for the quarter and nine months ended
September 30, 1999, exclude non-cash charges relating to the
Company's stock option program. The above pro forma amounts for the
quarter and nine months ended September 30, 2000, exclude write-off
of purchased in-process R&D, goodwill amortization, depreciation of
purchased intangible assets, and non-cash charges relating to the
Company's stock option program.
Actual condensed consolidated financial results Actual condensed
consolidated financial results includes purchased in-process R&D and
amortization of goodwill and intangible assets resulting from
acquisitions, as well as non-cash charges related to the Company's
stock option program. The following statements are prepared according
to U.S. GAAP for the fiscal period ending September 30, and are
unaudited.
(in thousands of Euro, except per-share amounts)
                        Q3 2000     Q3 1999     9M 2000     9M 1999
Sales                    19,890       6,800      47,370      15,116
Operating income*       -29,744        -451     -44,712        -563
Net profit              -30,908        -375     -44,106      -1,274
Diluted earnings
per share (EPS)           -0.92       -0.01       -1.32       -0.04
*Operating income is calculated as earnings before interest and
taxes including purchased in-process R&D, amortization of goodwill,
depreciation of purchased intangible assets, and non-cash charges
related to the stock option program.
End
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