Infinera posts Q3 revenue of $232.5m
Infinera, a maker of InP photonic integrated circuits (PICs) and related network equipment, has released its financial results for Q3 2015 ended September 26, . These include the operating results of Transmode from the date the acquisition closed on August 20, 2015.
GAAP revenue for the quarter was $232.5 million compared to $207.3 million in the second quarter of 2015 and $173.6 million in the third quarter of 2014.
GAAP gross margin for the quarter was 44.2 percent compared to 46.7 percent in the Q2 2015 and 43.4 percent in the Q4 of 2014. GAAP operating margin for the quarter was 6.1 percent compared to 8.0 percent in the Q2 of 2015 and 4.3 percent in the Q3 of 2014.
GAAP net income for the quarter was $8.5 million, or $0.06 per diluted share, compared to $17.9 million, or $0.13 per diluted share, in the second quarter of 2015, and $4.8 million, or $0.04 per diluted share, in the third quarter of 2014.
Non-GAAP revenue for the quarter was $233.2 million compared to $207.3 million in the second quarter of 2015 and $173.6 million in the third quarter of 2014.
Non-GAAP gross margin for the quarter was 47.5 percent compared to 47.4 percent in the second quarter of 2015 and 44.2 percent in the third quarter of 2014. Non-GAAP operating margin for the quarter was 14.4 percent compared to 13.0 percent in the second quarter of 2015 and 8.6 percent in the third quarter of 2014.
Non-GAAP net income for the quarter was $32.2 million, or $0.22 per diluted share, compared to $25.7 million, or $0.18 per diluted share, in the second quarter of 2015, and $14.2 million, or $0.11 per diluted share, in the third quarter of 2014.
"Our excellent third quarter results reflect continued strength across our core business, including growing Cloud Xpress revenues as well as the initial contribution from the new metro business. Adding the recently announced metro core and long haul interconnect products along with Transmode's suite of metro solutions enables Infinera to further enhance the superior experience we deliver to our customers," said Tom Fallon, Infinera's CEO.
"As the most vertically integrated transport provider in the world, now armed with a broad end-to-end portfolio, Infinera is in a terrific position to continue to deliver differentiated financial results on both the top and bottom lines," he added.
