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ots Ad hoc-Service: ADVA AG <DE0005103006> ADVA Optical Networking Reports 184% Growth in First Quarter Sales

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Martinsried/Munich, Germany; Ramsey, New Jersey (ots Ad
hoc-Service) -
ADVA Optical Networking (German Neuer Markt: ADV), a leading
global provider of optical networking solutions, today announced a
record quarterly sales performance for the first quarter 2000 (ended
March 31, 2000).
Sales for the first quarter 2000 reached 10.3 million Euro ($9.9
million USD), an increase of 184% over the same period of the prior
year (Q1 1999: 3.6 million Euro / $3.5 million USD). Operating income
according to U.S. GAAP totaled 554 thousand Euro ($530 thousand USD),
compared to -20 thousand Euro ($-19 thousand USD) during the same
period of the prior year. Net income according to U.S. GAAP totaled
362 thousand Euro ($347 thousand USD), compared to -38 thousand Euro
($-36 thousand USD) during the same period of the prior year.
Earnings per share on a diluted basis were 0.07 Euro ($0.07 USD) for
the first quarter 2000 compared with -0.01 Euro ($-0.01 USD) for the
first quarter 1999.
The record sales result was primarily due to strong demand for
ADVA's Fiber Service Platform (FSP)-II product, further penetration
of the North American market, growing sales to telecommunication
carrier customers and the establishment of new sales channels. To
date, ADVA has sold more than 10,000 channels worldwide to a customer
base of 14 telecommunication carriers and more than 200 enterprise
customers. The overall strong performance and growth in operating
income and net profit was primarily due to the Company's tight
management of gross margins, and strategic investments in the areas
of SG&A and R&D. ADVA continued to build its worldwide team,
increasing the number of employees from 132 in December 1999 to 237
as of May 1, 2000 (including the employees from the Storage Area
Networks Ltd. and Cellware Broadband GmbH acquisitions).
Highlights of the first quarter included the launch of the third
member of the FSP family, FSP 3000, in February. Specifically
targeted for the central offices (COs) of telecommunication carriers,
the FSP 3000 is a compact, quick-to-deploy and scalable Dense
Wavelength Division Multiplexing (DWDM) solution enabling carriers to
lease high-speed data and Synchronous Optical Network (SONET)
services. ADVA anticipates that the FSP 3000 will be available in the
latter half of 2000, and compliant with both Network Equipment
Building Standard (NEBS) and European Telecommunications Standards
Institute (ETSI) standards.
ADVA also announced the signing of an Original Equipment
Manufacturer (OEM) agreement with Cisco Systems Inc. Cisco will
market the FSP-II product as the Metro 1500 Series Metropolitan Area
Network (MAN) Dense-Wavelength Division Multiplexing (DWDM) platform
on a non-exclusive worldwide basis to its large enterprise customer
base.
The acquisitions of Storage Area Networks Ltd. and Cellware
Broadband GmbH were announced during the first quarter and both
completed on April 14, 2000; 157,725 new non-bearer shares were
issued in conjunction with these acquisitions. The financial results
of these acquisitions will be consolidated with retroactive effect as
of January 1, 2000, and be included in ADVA's external reporting
starting with the second quarter results, to be released on August 8,
2000. ADVA also announced a strategic investment in OptXCon Inc., a
U.S.-based optical networking start-up. OptXCon Inc. plans to develop
an optical cross-connect solution for metropolitan area networks and
enterprise networks.
Consolidated financial highlights
Fiscal period ending March 31, U.S. GAAP unaudited
(in thousands, except EPS and employees)
Q1 2000      Q1 1999
Sales                                   10,297       3,628
Operating income/loss (EBIT)               554       -20
Profit before tax (EBT)                    635       -38
Net profit/loss                            362       -38
Diluted earnings per share (EPS)           0.07      -0.01
Number of employees                        151        83
Total assets                               43,662     35,478
Total shareholders' equity                 33,769     30,364
ADVA's complete financial statements and quarterly report for the
first  quarter  2000, as well as the 1999 annual report,  can  be
found on its website at www.advaoptical.com.
Published by:
ADVA  AG  Optical Networking, Martinsried/Munich  and  Meiningen,
Germany
ADVA Optical Networking Inc., Ramsey, New Jersey, USA
www.advaoptical.com
For Investors:
ADVA Optical Networking
Alexa M. Schmidt
Tel. +49/89/89577-161 (Europe)
Tel. +1/201/995-0080 (U.S.)
Email:  investor-relations@advaoptical.com
For European Media:
Harvard Public Relations GmbH
Stefan Ehgartner / Stefanie Weckerle
Tel. +49/89/532957-32
Email:  weckerle@harvard.de
For U.S. Media and Industry Analysts:
Interprose PR
Kristin Duskin-Gadd
Tel. +1/703/359-0305
Email:  kduskin-gadd@interprosepr.com
End
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