(RTTNews) - ADVA Optical Networking SE (ADVOF.PK) reported Tuesday that its fourth-quarter net income declined 78.4 percent to 3.78 million euros from 17.51 million euros a year ago.
Sequentially, net income surged 329.2 percent from 0.9 million euros in the third quarter.
Revenues in the fourth quarter grew 24.1 percent to 195.70 million euros from last year's 157.71 million euros. This was due, in particular, to very high demand from telecommunications service providers.
The company plans to publish consolidated financial statements and annual report 2022 on March 09.
Looking ahead, Uli Dopfer, CFO of ADVA, said, "We're optimistic that global supply chains will ease during this year and that cash generation will improve. We also expect to benefit from our business combination with Adtran and see first revenue synergies in 2023."
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