News Article
Infinera revenues plummet 20%
The indium phosphide based PIC provider has reported revenues of $104 million for the latest quarter.
Infinera Corporation, a provider of digital optical communications systems, has released financial results for the third quarter ended September 24, 2011.
GAAP revenues for the third quarter of 2011 were $104.0 million compared to $96.0 million in the second quarter of 2011 and $130.1 million in the third quarter of 2010.
GAAP gross margin for the third quarter of 2011 was 39% compared to 39% in the second quarter of 2011 and 50% in the third quarter of 2010. GAAP net loss for the quarter was $21.8 million, or $(0.21) per share, compared to net loss of $24.2 million, or $(0.23) per share, in the second quarter of 2011 and net income of $4.4 million, or $0.04 per diluted share, in the third quarter of 2010.
“We remain encouraged by our recent revenue performance and the momentum in booking activity as customers continue to address their increased bandwidth needs with Infinera-based networks,” said Tom Fallon, president and chief executive officer. “Several factors are contributing to these trends-- our significant installed base, the broader application of our product line, our expanded sales force and a stronger focus at Infinera on key vertical markets and across geographies.”
Fallon noted that the company’s top customer for the third quarter was one of North America’s leading cable companies and that the company’s pipeline remains active with opportunities in the submarine space and with wholesale carriers in North America and Europe. One of the company’s Tier 1 customers was among its top five customers in Q3.
“We were also pleased with the recent launch of the DTN-X, our new multi-terabit packet optical network platform based on our third generation 500 Gb/s PICs, a pair of chips that integrate more than 600 optical functions and will deliver the world’s first 500 Gb/s FlexCoherent super-channels,” said Fallon.
“Customer response to the value proposition of the DTN-X—as well to the newly enhanced features of the DTN—has been very positive. The DTN-X reinforces Infinera’s position at the forefront of the innovation curve in the optical transport industry at a time when the industry requires the next step function in capability.”
Infinera hosted a conference call for analysts and investors to discuss its third quarter results and fourth quarter outlook. An archived version will be available on the website for 90 days. To hear the replay, parties in the United States and Canada should call 1-800-813-5525. International parties can access the replay at 1-203-369-3346.
