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ADVA Reports Record 2000 with Strong Growth in Fourth Quarter
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Martinsried/Munich, Ramsey/New Jersey, USA (ots Ad hoc-Service) -
ADVA Optical Networking (German Neuer Markt: ADV), a leading global provider of optical networking solutions, today announced preliminary results for the fourth quarter and full-year 2000, which ended December 31, 2000.
Sales for the fourth quarter 2000 reached 20.7 million Euro (19.5 million USD), an increase of 165% over the same period of the prior year (Q4 1999: 7.8 million Euro / 7.4 million USD). Sales for the full-year 2000 reached 68.1 million Euro (64.2 million USD), an increase of 197% over the full-year 1999 (full-year 1999: 22.9 million Euro / 21.6 million USD).
"2000 was a tremendous year of growth for ADVA as we executed on all fronts to increase sales 197% and strategically position ourselves as a dominant player in the metro market," said Brian L. Protiva, ADVA's Chief Strategy Officer. "We are expanding our product range to offer the broadest portfolio in the market, specifically meeting customer requirements for end-to-end metro solutions. Our focus on expanding our global reach is reflected in the 138% increase in customers, accomplished through both a greater number of distributors and the growing direct sales force targeted toward service providers. We are developing a full pipeline of provisioning features and expanded software capabilities to launch in the current year which expand the depth and breadth of end-to-end metro solutions for service providers and enterprises. We are well-positioned to take full advantage of the strong growth in this marketplace."
Strong performance by Fiber Service Platform (FSP) portfolio ADVA's FSP-II was the largest growth driver in 2000. Products from the acquisitions contributed 7% of sales. The FSP 3000, ADVA's flagship metro product, began initial shipments in the fourth quarter. The product is performing well and receiving excellent feedback from three service provider customers today.
Expanding enterprise and service provider customer base Geographically, enterprise and service provider demand in Europe was particularly strong in the fourth quarter 2000, and comprised 58% of full-year 2000 sales. ADVA's heightened sales efforts through its regional offices resulted in 38% of sales in the Americas and 4% in Asia-Pacific during the full-year 2000.
ADVA more than doubled its customer base in 2000 from 209 to 498. Metro service providers, including telecommunication carriers, internet service providers, and application service providers increased from 12 to 28. The number of enterprise customers, including Fortune 1,000 financial institutions, insurance companies, automobile manufacturers/ universities and government agencies increased from 197 at year-end 1999 to 470 at year-end 2000.
Business outlook "We see continued strong customer demand in our target market segments and no sign of a slowdown in our customers' projections for purchasing storage or metro optical equipment. We confirm our guidance within the previous range of EUR 125 to 135 million of revenue for 2001. For the first quarter 2001 we expect revenues of EUR 21 to 22 million and EUR 26 to 27 million in the second quarter of this year. The company further expects to achieve break-even ebit for 2001 (excluding stock plan compensation charges, depreciation from intangible assets from acquisitions and goodwill amortization), as we move toward an increasingly direct distribution model and continue to invest in service provider sales and service professionals," says Andreas G. Rutsch, ADVA's Chief Financial Officer.
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.
For Investors and Financial Press:
Alexa M. Schmidt
Tel. +49 89 89 577 161 (Europe)
Tel. +1 201 995 0080 (U.S.)
For Trade Press:
Tel. +44 1904 699 328
Tel. +1 201 995 0080 (U.S.)
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