ADVA reports results for Q3 2013 in line with the forecast

ADVA Optical Networking  has announced the Q3 2013 results which is in accordance with International Financial Reporting Standards (IFRS) for the year ended 30 Announced Q3 ended September 2013.
Revenues in Q3 2013 amounted to EUR 79.1 million and came in within guidance of between EUR 76 million to EUR 81 million. IFRS pro forma operating income in Q3 2013 is EUR 4.0 million or 5.0% of sales at the top of the forecast range, which was 1% to 5% of sales.
In Q3 2013 IFRS net profit of EUR 2.3 million was, after EUR 3.5 million in Q3 of 2012. This decrease in net income is primarily attributable to the aforementioned increase in operating profit.
Jaswir Singh, Chief Financial Officer & Chief Operating Officer of ADVA Optical Networking, explained,  Our revenues in Q3 2013 amounted to EUR 79.1 million puts them within the forecast range and are higher by 0.9% than in the previous quarter pro forma. Operating profit margin was in Q3 2013 to 5.0%. Moreover, the cash reached at the end of Q3 2013 a record level of EUR 80, 6 million, and net liquidity rose by EUR 0.8 million to EUR 41.4 million. This shows that we focus our attention on the management of cash and strengthening the balance sheet.
In Q3 2013 IFRS net profit of EUR 2.3 million was, after EUR 3.5 million in Q3 of 2012. This decrease in net income is primarily attributable to the aforementioned increase in operating profit. Basic and diluted earnings per share in Q3 2013 reached at EUR 0.05, after EUR 0.07 each in Q3 of 2012.