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ADVA Optical Networking SE: ADVA Optical Networking Posts Record Quarter of EUR 157.2 Million Revenues in Q2 2016

ADVA Optical Networking SE / ADVA Optical Networking Posts Record Quarter of
EUR 157.2 Million Revenues inQ2 2016 . Processed and transmitted by NASDAQ
OMX Corporate Solutions.The issuer is solely responsible for the content of
this announcement.
ADVA Optical Networking Posts Record Quarter

of EUR 157.2 Million Revenues in Q2 2016

* Revenues of EUR 157.2 Million Drive 40.1% Year-on-Year Growth
* Pro Forma Operating Income: EUR 4.2 Million (2.7% of Revenues)
* Q3 2016 Outlook: Revenues EUR 150 - 160 Million; Pro Forma Operating Income
3% - 6% of Revenues

Munich, Germany. July 21, 2016.
ADVA Optical Networking (ISIN: DE0005103006, WKN 510300) announced Q2 2016
financial results for the quarter ended on June 30, 2016 and prepared in
accordance with International Financial Reporting Standards (IFRS).

Q2 2016 IFRS Financial Results

Quarterly revenues climbed to a record high of EUR 157.2 million. The figure
marks an increase of 40.1% year-on-year (YoY) (Q2 2015: EUR 112.3 million)
and is above the guidance forecast that was announced earlier this year on
April 21.

"Q2 has been a solid quarter for us. We're gaining market share and building
momentum," said Brian Protiva, CEO, ADVA Optical Networking. "Our focus and
innovation in the data center interconnect space is delivering results. In
fact, we're one of the few companies outperforming the market. We're
aggressively growing our footprint in this space with a number of key
customers and we're continuing to win strategic accounts."

Pro forma operating income in Q2 2016 stood at EUR 4.2 million or 2.7% of
revenues, which represents a EUR 3.5 million YoY decrease (Q2 2015: EUR 7.7
million) and is in line with the previously announced guidance. The operating
income came to EUR 3.1 million (Q2 2015: EUR 7.4 million). Cash and cash
equivalents were at EUR 82.5 million. Net liquidity reached EUR 20.0 million
and net working capital EUR 102.7 million.

The quarterly result includes the acquisition of Overture, which took place on
January 13, and consequently contains some of the one-off restructuring and
integration expenses related to the acquisition. The acquisition was a
strategically important step for ADVA Optical Networking and will strengthen
the company's product portfolio for cloud access solutions.

"The integration of Overture is progressing well and nearing completion,"
continued Brian Protiva. "We've fully integrated their hardware business into
our cloud access portfolio and significantly expanded our customer footprint.
What's more, with the launch of ADVA Ensemble, a new strategic division
focused on network functions virtualization, we leapfrogged the market by 12
months. Innovation is more important than ever and is helping to grow our
market share. In Q2 alone, we won six awards, including Light Reading's
prestigious Company of the Year (Public) and a Global Telecom Business
Innovation Award with Verizon Partner Solutions. Innovation and operational
excellence will continue to propel us forward, leading to increasing market
share and profitability."
Additional Key Data

| (in thousands of EUR) Q2 Q2 Change Q1 Change |
| |
| 2016 2015 2016 |
| |
| Revenues 157,243 112,260 40.1% 121,962 28.9% |
| Pro forma gross profit 42,967 38,668 11.1% 40,393 6.4% |
| in % of revenues 27.3% 34.4% -7.1pp 33.1% -5.8pp |
| Pro forma operating income 4,213 7,671 -45.1% 1,950 116.1% |
| in % of revenues 2.7% 6.8% -4.1pp 1.6% 1.1pp |
| Operating income 3,080 7,422 -58.5% 994 209.9% |
| Net income 9,806 5,126 91.3% -5,163 289.9% |
| |
| (in thousands of EUR) June 30, June 30, Change Mar. 31, Change |
| |
| 2016 2015 2016 |
| Cash and cash equivalents 82,521 78,819 4.7% 73,402 12.4% |
| Net liquidity 20,039 47,507 -57.8% 9,362 114.0% |
*Potential differences due to rounding

Pro forma financial numbers exclude non-cash charges related to the stock
compensation programs and amortization and impairment of goodwill and
acquisition-related intangible assets.

Q3 2016 Outlook

In Q3 2016, ADVA Optical Networking expects revenues to range between EUR 150
million and EUR 160 million and anticipates a pro forma operating income of
between 3% and 6% of revenues. ADVA Optical Networking performs quarterly
reviews of the expected business development with respect to all intangible
assets, including capitalized development expenses. In case of adverse
business prospects, these reviews may result in non-cash impairment charges
in Q3 2016 and beyond, which are excluded from the above guidance. The
company will publish its Q3 2016 financial results on October 27, 2016.

# # #

Conference Call Details

In conjunction with the release of its Q2 2016 financial results on July 21,
2016, ADVA Optical Networking will host a conference call for analysts and
investors at 3:00 p.m. CEST / 9:00 a.m. EDT. Participating in the call will
be ADVA Optical Networking's CEO, Brian Protiva, and CFO, Ulrich Dopfer.
Interested parties may dial in at +49 69 22 22 29 043 or +1 855 402 77 66,
pin code 510 934 25#, 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

The complete 2016 Six-Month Report (January - June) is available as a PDF on
our website:www.advaoptical.comvia the links About Us - Investor Relations -
Financial Results.

# # #

Forward-Looking Statements

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 Optical Networking. ADVA 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 Optical Networking or the market in the shares of ADVA
Optical Networking.

Use of Pro Forma Financial Information

ADVA Optical Networking provides consolidated pro forma financial results in
this press release solely as supplemental financial information to help
investors and the financial community make meaningful comparisons of ADVA
Optical Networking's operating results from one financial period to another.
ADVA Optical Networking believes that these pro forma consolidated financial
results are helpful because they exclude non-cash charges related to the
stock option programs and amortization and impairment of goodwill and
acquisition-related intangible assets, which are not reflective of the
Company's operating results for the period presented. This pro forma
information is not prepared in accordance with IFRS and should not be
considered a substitute for historical information presented in accordance
with IFRS.

About ADVA Optical Networking

At ADVA Optical Networking we're creating new opportunities for tomorrow's
networks, a new vision for a connected world. Our intelligent
telecommunications hardware, software and services have been deployed by
several hundred service providers and thousands of enterprises. Over the past
twenty years, our innovative connectivity solutions have helped to drive our
customers' networks forward, helped to drive their businesses to new levels
of success. We forge close working relationships with all our customers. As
your trusted partner we ensure that we're always ready to exceed your
networking expectations. For more information on our products and our team,
please visit us

Published By:

ADVA Optical Networking SE, Martinsried/Munich and Meiningen, Germany

For Press:

Gareth Spence
t +44 1904 699 358

For Investors:

Stephan Rettenberger
t +49 89 890 665 854


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ADVA Optical Networking SE via Globenewswire


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