Vendor results N55

ADVA (Germany): 4Q04 revenues reached €27m, up 16%, operating income declined 27%

to €1.9m, and net income was down 70% to €1.2m. 2004 turnover reached record €100m+.

Thales (France) posted 2004 revenues of €10.3bn, down 3%, and a net profit of €198m,

up 77%.