Infinera posts positive Q4 and year-end results
Infinera, a maker of InP photonic integrated circuits (PICs) and network equipment, has released financial results for the fourth quarter and fiscal year ended December 26, 2015.
"Our fourth quarter performance capped off an exceptional year of revenue and profitability growth, expansion of our product portfolio to serve the end-to-end market and the continuation of our commitment to deliver the Infinera Experience to our customers," said Tom Fallon, Infinera's CEO.
He added: "With customers increasingly relying on optical transport as the foundation of their next generation networks, Infinera will continue to deliver the most innovative, scalable and programmable Intelligent Transport solutions in the industry. We exited 2015 on a $1 billion annual revenue run rate and are well positioned to address the significant future opportunities associated with this optical networking transformation."
GAAP revenue for the quarter was up to $260.0M compared to $232.5M in Q3 2015 and $186.3M in Q4 2014.
GAAP gross margin for the quarter was 44.5 percent compared to 44.2 percent in Q4 2015 and 45.3 percent in the Q4 2014. GAAP operating margin for the quarter was 5.3 percent compared to 6.1 percent in Q3 2015 and 6.9 percent in Q4 2014.
GAAP net income for the quarter was $12.6 million, or $0.08 per diluted share, compared to $8.5M, or $0.06 per diluted share, in Q3 2015, and $8.4M, or $0.06 per diluted share, in the fourth quarter of 2014.
Non-GAAP revenue for the quarter was also up at $260.6M compared to $233.2M in Q3 2015 and $186.3 million in Q4 2014.
Non-GAAP gross margin for the quarter was 48.3 percent compared to 47.5 percent in Q3 2015 and 46.1 percent in Q4 2014. Non-GAAP operating margin for the quarter was 12.7 percent compared to 14.4 percent in Q3 2015 and 11.0 percent in Q4 2014.
Non-GAAP net income for the quarter was $32.0M, or $0.21 per diluted share, compared to $32.2 million, or $0.22 per diluted share, in Q3 2015, and $18.0M, or $0.13 per diluted share, in Q4 2014.
Annual results
GAAP revenue for the year was $886.7M compared to $668.1M in 2014. GAAP gross margin for the year was 45.5 percent compared to 43.2 percent in 2014. GAAP operating margin for the year was 6.7 percent compared to 4.1 percent in 2014. GAAP net income for the year was $51.4M, or $0.36 per diluted share, compared to $13.7M or $0.11 per diluted share in 2014.
Non-GAAP revenue for the year was $888.0M compared to $668.1M in 2014. Non-GAAP gross margin for the year was 47.8 percent compared to 44.0 percent in 2014. Non-GAAP operating margin for the year was 13.1 percent compared to 8.3 percent in 2014. Non-GAAP net income for the year was $112.0M, or $0.78 per diluted share, compared to $49.8M, or $0.39 per diluted share in 2014.
