News Article
Infinera Yearly Revenues Shoot up by 30%
The company says 2010 was a year of strong growth in bandwidth demand worldwide, driven by a number of applications, notably video, mobility, and cloud computing.
Infinera Corporation, a provider of digital optical communications systems, has released financial results for the fourth quarter and fiscal year ended December 25, 2010.
GAAP revenues for the quarter were $117.1 million compared to $90.2 million in the fourth quarter of 2009. Gross margins for the quarter were 49% compared to 38% in the fourth quarter of 2009.
GAAP net loss for the quarter was $2.7 million, or $(0.03) per share, compared to net income of $4.4 million, or $0.04 per basic and diluted share, in the third quarter of 2010 and a net loss of $18.7 million, or $(0.19) per share, in the fourth quarter of 2009.
GAAP revenues for the year ended December 25, 2010 were $454.4 million compared to $309.1 million in 2009, while gross margins for the year were 45% compared to 33% in 2009. GAAP net loss for the year was $27.9 million, or $(0.28) per share compared to $86.6 million, or $(0.91) per share in 2009.
“2010 was a year of strong growth in bandwidth demand worldwide, and our customers saw growth in their networks, driven by a number of applications, notably video, mobility, and cloud computing,” said Tom Fallon, president and CEO.
“We are pleased that we have been able to participate in this growth, showing strong year-over-year performance in revenues and market share, improved profitability and progress toward achieving our long-term business model. Service providers continue to look for ways to improve the economic performance of their networks through both efficiency and rapid response to their revenue-creating opportunities. With our digital optical architecture, we enable them to do so with the unique combination of world class optics and digital network intelligence,” he continued.
“In fiscal 2011, we will continue to focus on meeting the needs of our customers and on addressing market expansion opportunities. In addition, we will focus on expense management, while at the same time ensuring that we invest appropriately to enable the successful launch of our PIC-based 100G product in 2012.”
“We remain on track to ship our differentiated 40G solution with FlexCoherent technology for our current DTN networks later this year. In the meantime, we will meet customer needs today with what we believe is the industry’s most cost effective and flexible portfolio of network solutions — our differentiated PIC-based DTN network and our ATN metro solution.”
Infinera hosted a conference call for analysts and investors to discuss its fourth quarter and fiscal year 2010 results. An archived version will be available on the website for 90 days. The replay may be accessed by ringing:
1-800-839-2334 (from Canada and U.S.) and 1-203-369-3656 (from outside Canada and U.S)
