Loading...
News Article

Infinera increases quarterly revenue

News

Company expects to return to non-GAAP profitability and positive cash flow in Q4

Infinera, a US provider of transport networks, has released financial results for its second quarter ended June 29, 2019.

GAAP revenue for the quarter was $296.3 million compared to $292.7 million in Q1 2019 and $208.2 million in Q2 2018.

GAAP gross margin for the quarter was 20.7 percent compared to 22.7 percent in Q1 2019 and 40.5 percent in Q2 2018. GAAP operating margin for the quarter was (36.6) percent compared to (38.2) percent in the first quarter of 2019 and (10.4) percent in the second quarter of 2018.

GAAP net loss for the quarter was $113.7 million, or $(0.64) per share, compared to a net loss of $121.6 million, or $(0.69) per share, in the Q12019, and net loss of $21.9 million, or $(0.14) per share, in Q2f 2018.

Non-GAAP revenue for the quarter was $306.9 million compared to $295.6 million in Q1 2019 and $208.2 million in Q2 2018.

Non-GAAP gross margin for the quarter was 30.7 percent compared to 35.3 percent in the first quarter of 2019 and 43.9 percent in the second quarter of 2018. Non-GAAP operating margin for the quarter was (12.3) percent compared to (11.9) percent in the first quarter of 2019 and (0.7) percent in the second quarter of 2018.

Non-GAAP net loss for the quarter was $42.0 million, or $(0.24) per share, compared to a net loss of $41.2 million, or $(0.23) per share, in the first quarter of 2019, and net loss of $1.3 million, or $(0.01) per share, in the second quarter of 2018.

A further explanation of the use of non-GAAP financial information and a reconciliation of the non-GAAP financial measures to the GAAP equivalents can be found at the end of this release.

“During the quarter, we significantly enhanced the longer-term position of the New Infinera with strong customer traction led by bookings from several new Tier-1 wins and the initial ramp of a new internet content provider,” said Tom Fallon, Infinera CEO. “Continued progress on our integration program, which we expect to largely complete in the fourth quarter of 2019, is enabling synergies to track ahead of prior commitments. Based on this foundation, we expect to return to non-GAAP profitability and positive cash flow in the fourth quarter of 2019.”

Financial Outlook

Infinera’s outlook for the quarter ending September 28, 2019 is as follows:

GAAP revenue is expected to be $328 million +/- $10 million. Non-GAAP revenue is expected to be $330 million +/- $10 million.

GAAP gross margin is expected to be 27 percent +/- 200 bps. Non-GAAP gross margin is expected to be 32 percent +/- 200 bps.

GAAP operating expenses are expected to be $150 million +/- $3 million. Non-GAAP operating expenses are expected to be $130 million +/- $3 million.

GAAP operating margin is expected to be approximately (19) percent. Non-GAAP operating margin is expected to be approximately (7) percent.

GAAP EPS is expected to be $(0.40) +/- $0.02. Non-GAAP EPS is expected to be $(0.17) +/- $0.02.

SiC MOSFETs: Understanding the benefits of plasma nitridation
Wolfspeed reports Q2 results
VueReal secures $40.5m to scale MicroSolid printing
Mitsubishi joins Horizon Europe's FLAGCHIP project
Vishay launches new high voltage SiC diodes
UK team leads diamond-FET breakthrough
GaN adoption at tipping point, says Infineon
BluGlass files tuneable GaN laser patents
QD company Quantum Science expands into new facility
Innoscience files lawsuit against Infineon
Riber revenues up 5% to €41.2m
Forvia Hella to use CoolSiC for next generation charging
Photon Design to exhibit QD simulation tool
Ortel transfers CW laser fabrication to Canada
Luminus adds red and blue multi-mode Lasers
PseudolithIC raises $6M for heterogeneous chiplet tech
Mesa sidewall design improves HV DUV LEDs
IQE revenue to exceed expectations
'Game-changing' VCSEL system targets clinical imaging
German start-up secures finance for SiC processing tech
Macom signs preliminaries for CHIPS Act funding
IQE and Quintessent partner on QD lasers for AI
EU funds perovskite tandems for fuel-free space propulsion
EU to invest €3m in GeSi quantum project
Transforming the current density of AlN Schottky barrier diodes
Turbocharging the GaN MOSFET with a HfO₂ gate
Wolfspeed launches Gen 4 SiC MOSFET technology
Report predicts high growth for UK's North East
Element Six unveils Cu-diamond composite
SemiQ launches hi-rel 1700V SiC MOSFETs
Lynred to exhibit Eyesential SWIR sensor for machine vision
Thorlabs buys VCSEL firm Praevium Research
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
x
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: