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Greentech Media’s Solar Summit: 2010
March 30 – 31, 2010
Phoenix, AZ
ADVA Optical Networking reports audited 2009 IFRS financial results above guidance for Q4
Q4 2009 revenues at EUR 59.6 million,
IFRS pro forma operating income of EUR 3.1 million (5.2% of revenues)
FY 2009 revenues at EUR 232.8 million,
IFRS pro forma operating income of EUR 6.1 million (2.6% of revenues)
Q1 2010 revenues expected to range
between EUR 57 million and EUR 62 million with
IFRS pro forma operating income between 0% and 4% of revenues
March 3, 2010.
ADVA Optical Networking announces Q4 and audited full-year 2009 financial results for the period ended December 31, 2009, and prepared in accordance with International Financial Reporting Standards (IFRS).
Q4 2009 IFRS FINANCIAL RESULTS
Revenues in Q4 2009 totaled EUR 59.6 million after EUR 56.8 million in Q4 2008 and EUR 58.1 million in Q3 2009, slightly above guidance of between EUR 54 million and EUR 59 million. IFRS pro forma operating income, excluding stock-based compensation and amortization & impairment of goodwill & acquisition-related intangible assets, amounted to EUR 3.1 million in Q4 2009 or 5.2% of revenues, also above guidance of between -1% and +4% of revenues. This compares to a Q4 2008 IFRS pro forma operating income of EUR 0.1 million or 0.1% of revenues, and to Q3 2009 IFRS pro forma operating income of EUR 2.0 million or 3.4% of revenues. To a large degree, the year-over-year improvement of pro forma operating income is due to revenue growth and higher gross margins.
The IFRS operating income in Q4 2009 was EUR 2.1 million, after an operating loss of EUR 0.5 million in Q4 2008. The key driver for this development is the above-mentioned increase in pro forma operating income, offset in part by stock compensation expenses of EUR 0.4 million in Q4 2009 after EUR -0.1 million in Q4 2008.
The IFRS net income in Q4 2009 amounted to EUR 1.4 million, after a net loss of EUR 2.2 million in Q4 2008. This significant improvement was largely driven by the factors impacting the development of the operating result described above, as well as net foreign currency exchange gains of EUR 0.8 million in Q4 2009 after a loss of EUR 0.2 million in Q4 2008. Basic and diluted IFRS net earnings per share were EUR 0.03 each in Q4 2009 after EUR -0.05 each in Q4 2008.
FULL-YEAR 2009 IFRS FINANCIAL RESULTS
Driven by improved Ethernet access and carrier infrastructure business, revenues came in at EUR 232.8 million in 2009, 7.0% higher than the EUR 217.7 million reported in 2008. IFRS pro forma operating income at EUR 6.1 million in 2009 or 2.6% of revenues was significantly higher than the pro forma operating loss of EUR 0.7 million or negative 0.3% of revenues in 2008. This improvement is largely due to higher revenues.
The IFRS operating income in 2009 was EUR 2.3 million, after an operating loss of EUR 7.0 million in 2008. The major reasons for this positive development are the above-mentioned increase in pro forma operating income as well as significantly lower amortization of intangible assets from acquisitions of EUR 2.4 million in 2009 after EUR 4.6 million in 2008.
Finally, ADVA Optical Networking's IFRS net income amounted to EUR 1.3 million in 2009, after a net loss of EUR 8.9 million in 2008. Beyond the development of the operating income mentioned above, the increase in the net result was impacted by net foreign currency exchange gains of EUR 0.5 million in 2009 after a loss of EUR 1.1 million in 2008. Basic and diluted IFRS net earnings per share were EUR 0.03 each in 2009, after EUR -0.19 each in 2008.
"We are very pleased with our Q4 2009 revenues of EUR 59.6 million. This result slightly exceeds guidance and is up 2.6% vs. the previous quarter and up 4.8% vs. Q4 2008. Our pro forma gross margin increased from 41.8% in Q3 2009 to 45.4% in Q4 2009, principally due to variability of our customer and product mix. In line with strong revenue development, pro forma operating income in Q4 2009 is at 5.2% of revenues, also exceeding guidance. Further working capital improvements resulted in record levels of cash & cash equivalents and net liquidity of EUR 50.9 million and EUR 22.5 million, respectively, at the end of Q4 2009, up EUR 2.8 million and EUR 3.5 million, respectively, vs. the end of the previous quarter. In respect of net liquidity, this represents the sixth consecutive all-time high and demonstrates our commitment to managing our cash flows and balance sheet," commented Jaswir Singh, chief financial officer & chief operating officer of ADVA Optical Networking.
CONFERENCE CALL
In conjunction with the release of its full-year 2009 audited IFRS financial results on March 3, 2010, ADVA Optical Networking will host a conference call for analysts and investors at 3:00 p.m. CET / 9:00 a.m. EST. Participating in the call will be ADVA Optical Networking's chief executive officer, Brian Protiva and chief financial officer & chief operating officer, Jaswir Singh. Interested parties may dial in at +49 69 4035 9611 or +1 866 306 3455, and download the corresponding presentation from ADVA Optical Networking's website, located on the "financial results" page under "conference calls" in the investor relations section of ADVA Optical Networking's website at www.advaoptical.com.
Q1 2010 OUTLOOK
The macro-economic environment continues to recover slowly and with significant volatility. ADVA Optical Networking therefore remains cautious about revenue development in 2010. In Q1 2010, the Company expects revenues to range between EUR 57 million and EUR 62 million, and anticipates pro forma operating income of between 0% and 4% of revenues. Further, ADVA Optical Networking notes that it will continue to perform detailed quarterly reviews of the expected business development in respect of all intangible assets, including capitalized research and development expenses. These reviews may result in non-cash impairment charges in Q1 2010 and beyond. The pro forma operating income guidance provided above excludes any such potential impairment charges. ADVA Optical Networking will publish its Q1 2010 financial results on April 29, 2010.
"Despite the financial crisis and a depressed macro-economic environment, 2009 was a very successful year for ADVA Optical Networking: We returned to profitable growth, increased our financial strength, further improved our operational efficiency, ramped up our direct relationships with customers and maintained a market-leading position. Most importantly, we drove innovation, an element crucial to our long-term success. As for 2010, we face a telecommunications industry that is growing incredibly dynamically and is critical for most applications and industries. Bandwidth-hungry Internet applications require massive investments in carrier infrastructure, and the increase in mobile devices as the primary platform for the future delivery of broadband services will create a significant need for high-capacity backhaul networks. These trends will be highly beneficial to our success. The combination of cost-effective innovation, short development and delivery times, a broad and growing customer base and a well-balanced distribution model differentiates ADVA Optical Networking from its peers. This will further fuel our sustainable business model and support our strategic focus to be the trusted partner for innovative Optical+Ethernet transport solutions," stated Brian Protiva, chief executive officer of ADVA Optical Networking.
FRS CONSOLIDATED INCOME STATEMENT
| (in thousands of EUR, except earnings per share) |
Q4
2009 |
Q4
2008 |
FY
2009 |
FY
2008 |
| |
| Revenues |
59,600 |
56,849 |
232,808 |
217,672 |
| Pro forma cost of goods sold |
-32,550 |
-32,746 |
-132,851 |
-125,802 |
| Pro forma gross profit |
27,050 |
24,103 |
99,957 |
91,870 |
| Pro forma selling and marketing expenses |
-9,390 |
-9,157 |
-36,725 |
-34,087 |
| Pro forma general and administrative expenses |
-6,029 |
-6,746 |
-23,280 |
-26,298 |
| Pro forma research and development expenses |
-10,449 |
-10,010 |
-40,714 |
-40,682 |
| Income from capitalization of development expenses, net of amortization for capitalized development projects |
991 |
1,501 |
5,214 |
9,004 |
| Restructuring expenses |
0 |
0 |
0 |
-2,251 |
| Other operating income (expenses), net |
931 |
388 |
1,650 |
1,736 |
| Pro forma operating income |
3,104 |
79 |
6,102 |
-708 |
| Amortization of intangible assets from acquisitions |
-591 |
-747 |
-2,443 |
-4,574 |
| Stock compensation expenses |
-428 |
121 |
-1,378 |
-1,761 |
| Operating income (loss) |
2,085 |
-547 |
2,281 |
-7,043 |
| Interest income (expense), net |
-301 |
-262 |
-1,215 |
-1,005 |
| Other income (expense), net |
842 |
-171 |
543 |
-1,103 |
| Income (loss) before tax |
2,626 |
-980 |
1,609 |
-9,151 |
| Income tax benefit (expense), net |
-1,217 |
-1,198 |
-289 |
275 |
| Net income (loss) |
1,409 |
-2,178 |
1,320 |
-8,876 |
| |
| Earnings per share in EUR |
| basic |
0.03 |
-0.05 |
0.03 |
-0.19 |
| diluted |
0.03 |
-0.05 |
0.03 |
-0.19 |
INUBIT: 10 years inubit AG
Berlin BPM provider celebrates company anniversary
Berlin, September 21, 2009 – Today, the Berlin based inubit AG is celebrating its tenth company anniversary. Since 1999, the company's mission has been to develop and provide efficient process management solutions in order to connect the two worlds of “business” and “IT” by intelligent software. With the inubit BPM-Suite as core product, inubit set the course for an efficient interaction of functional and technical process requirements and implemented within one standard product the requirements for a holistic process management.
More than 350 customers in Germany, Austria and Switzerland, but also increasingly throughout Europe, apply the inubit BPM-Suite as central process control platform. Amongst the users are companies from all industries as for example IDEAL Versicherungen, E.ON Ruhrgas, OBI/GfD, Metro, MAGNA Steyr, Alcatel Lucent Network Systems and EWE TEL. Furthermore, more than 50 active inubit partners are convinced of the product performance and are working together with inubit to further extend its global market position.
From a technological point of view, inubit decided early on to shift its focus from a B2B integration and EAI provider towards BPM (Business Process Management). So, already in 2004, the company launched with the release 3.0 of the Business Integration Server (inubit IS) the first standardized and homogeneous product for EAI (Enterprise Application Integration), SOA (Service-oriented Architecture) and BPM on the market. Meanwhile, the software is called “inubit BPM-Suite” and has received several awards, including the Process Solution Award 2009 and the Innovationspreis Berlin-Brandenburg.
In the last ten years, inubit succeeded in increasing sales and profits continuously and above market average. The company owes its success to the effective targeting of customers from different industries, to its own flexibility as well as to the fast reaction to market changes and especially to its employees. inubit now employs more than 80 specialists from different areas of BPM implementing the requirements of customers in a committed and reliable way.
Today, the tenth anniversary will be appropriately celebrated together with customers, business partners, employees and long-time companions in the spacious foyer of our new headquarters at Schöneberger Ufer 89-91, where we moved to last year.
About inubit
inubit AG supports companies with their systematic optimization and process automation by providing its consistent and repeatedly awarded inubit BPM-Suite. The company, which is certified according to DIN EN ISO 9001:2000 and has presently 80 employees in the central office in Berlin and sales offices in Munich, Vienna and Zurich, serves more than 350 customers in Germany and other European countries.
AMS: Nanometer Technologies - Distribution Agreement
Martinsried, 08-19-2009 - AMS Technologies AG, pan European distributor of high-tech systems and components based in Germany, and Nanometer Technologies, based in California, have entered into a distribution agreement. The agreement entitles AMS Technologies to market and sell Nanometer Technologies’ products throughout Europe with the only exception of the United Kingdom and Ireland.
The product range of Nanometer Technologies includes complete automated fiber inspection stations (AFiS), mass connector polishers, field polishers, ferrule protrusion measurement devices and fiberoptic remote connector inspection tools.
INUBIT: inubit addresses increasingly the international market
inubit generates 35 percent sales growth
Berlin, July 6th, 2009 – inubit AG, technologically leading provider for Business Process Management (BPM) software, competed successfully within the first six month of 2009, contrary to the globally tense economic situation. Once more, inubit is growing considerably faster than the market. The turnover increased in the first half-year 2009 by 35 percent in comparison to the reference period in 2008. The Berlin based company profited particularly by specifically addressing various industries and their own flexibility to react fast to market changes.
“Together with our partners, we operate flexibly in different industries and adapt our sales and marketing activities situationally. In contrast to our competitors we have the ability to increasingly address market segments, which are taking their chance to emerge from the crisis stronger than before by using BPM.” said Dr. Torsten Schmale, CEO of inubit AG. In the first half-year 2009, inubit was able to acquire new customers like RWE, Delvag, Metro, DHL, Bahlsen, Olympus, PADline and the Berlin administration of justice.
Moreover, inubit can refer to first successes in countries beyond Germany, Austria and Switzerland. Via close and locally resident partnerships, the company set foot in UK, the Netherlands, Brazil, Singapore, China and Middle East. The expanded position in the domestic market and the first global activities form the basis for further corporate growth. By the end of June, inubit businesses go according to plan regarding order intake and turnover; the positive result even exceeds the expectations with 22 percent.
With new compact solutions like the inubit BiPRO-Server, the inubit Process Monitor for functional process control or the solution for automated master data management for trading companies, inubit responds to the requirements of customers, which have to implement BPM projects with a fast return on investment. An affirmation for this solution approach is the recently received Process Solution Award. This award was bestowed by the Gesellschaft für Organization e.V. (Association for Organization, registered association) for the successfully implemented project at Edeka Minden-Hannover realizing the automation of the master data management processes.
Furthermore inubit focuses on strengthen high-level consultancy services. With the take-over of the SOA Governance businesses of BusinessGlue in April 2009, inubit addresses companies, which consider IT Governance as strategic access to the SOA world or as an addition to already existing SOA solutions. In order to support this also technologically, inubit developed „inubit PlanCentral“ – a BPM based Governance suite providing pre-configured, executable and customizable governance processes. This suite enables all different SOA/BPM stakeholders to efficiently cooperate via a process portal where all systems for IT controlling are integrated in a process driven way to achieve a uniform solution.
About inubit
inubit AG supports companies with their systematic optimization and process automation by providing its consistent and repeatedly awarded inubit BPM-Suite. The company, which is certified according to DIN EN ISO 9001:2000 and has presently 80 employees in the central office in Berlin and sales offices in Munich, Vienna and Zurich, serves more than 350 customers in Germany and other European countries.
INHECO: Incubator DWP
The INHECO Incubator DWP is an automated and compact incubating position for one standard SBS Deep Well Plate. The Incubator DWP can be used as a stand-alone device, or stacked to form a tower of up to 6 units. Even stacking of different devices of the INHECO Incubator family in one tower is possible, the devices in the tower can be controlled through the master-slave principle.
Precise temperature control, USB interface, plate loading sensors and several self test routines guarantee a safe, precise and fast processing of samples. Software and verification tools are available to form a complete thermal solution for all kind of incubation applications. The unit is a plug-and-play high performance device with CE and UL certification.
Fields of Application
It is mainly used on robotic platforms and systems in LabAutomation to form a self-contained temperature controlled area for one Deep Well Plate. The automated drawer system offers direct and easy access by robotic grippers for loading and unloading and even direct access with pipetting heads. The lid is turning 90° after opening the drawer to enable easy portrait and landscape gripping.
The INHECO Incubator DWP is designed for the use in fundamental research, drug discovery, clinical research and diagnostics in the Life Science market. The Incubator MP is tested for the operation with an increasing number of established LabAutomation systems, please contact us for more information.
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