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Infinera's Q2 results reflect 'robust demand'

Revenue and net income show improvement over Q1

Infinera, a maker of InP photonic integrated circuits (PICs) and systems based on them, has released financial results for the second quarter of 2015 ended June 27, 2015.

Revenue for the quarter was $207.3 million compared to $186.9 million in the first quarter of 2015 and $165.4 million in the second quarter of 2014.

GAAP gross margin for the quarter was 46.7 percent compared to 47.2 percent in the first quarter of 2015 and 42.5 percent in the second quarter of 2014. GAAP operating margin for the quarter was 8.0 percent compared to an operating margin of 8.1 percent in the first quarter of 2015 and an operating margin of 4.9 percent in the second quarter of 2014.

GAAP net income for the quarter was $17.9 million, or $0.13 per diluted share, compared to $12.4 million, or $0.09 per diluted share, in the first quarter of 2015, and $4.8 million, or $0.04 per diluted share, in the second quarter of 2014.

"Our outstanding second quarter results were driven by robust demand across multiple verticals, as customers continued to build next generation networks with Infinera. Differentiated products, exceptional customer experience and a vertical business model enable us to continue to grow our top line rapidly and our bottom line even faster," said Tom Fallon, Infinera's CEO. 

"With the emergence of new cloud architectures, the strategic importance of optical transport has never been higher. Our technology leadership and superior service experience, puts Infinera in a particularly favorable position to benefit from this ongoing evolution in optical networking," he added.

Non-GAAP gross margin for the quarter was 47.4 percent compared to 47.8 percent in the first quarter of 2015 and 43.3 percent in the second quarter of 2014. Non-GAAP operating margin for the quarter was 13.0 percent compared to 12.2 percent in the first quarter of 2015 and 9.0 percent in the second quarter of 2014.

Non-GAAP net income for the quarter was $25.7 million, or $0.18 per diluted share, compared to $22.1 million, or $0.16 per diluted share, in the first quarter of 2015, and $13.5 million, or $0.11 per diluted share, in the second quarter of 2014.

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