News

21 October 2009

 

Infinera revenue rebounds by 21% to $83.4m

For third-quarter 2009, Infinera of Sunnyvale, CA, USA, a vertically integrated manufacturer of digital optical network systems incorporating its own indium phosphide-based photonic integrated circuits (PICs), has reported revenue of $83.4m, rebounding by 21% from $68.9m last quarter and back up on a year ago (by 3% from $80.9m). International revenue grew for the fourth quarter in a row, reaching 37% of revenue.

Excluding restructuring and other related costs and non-cash stock-based compensation expense, non-GAAP gross margin was 38%, up from 31% last quarter (though still down from 42% a year ago). Non-GAAP net loss has been cut from $18.2m last quarter to $3.1m, although this is still down on break-even a year ago.

“We continued our positive revenue growth trajectory and our new customer win momentum with the addition of four customers to our roster [bringing total customer count to 66],” says president & CEO Jagdeep Singh. With the addition of incumbent service providers Telefonica and Teliasonera, Infinera’s Tier-1 carrier customer count is now six, of which three (NTT Communications, Deutsche Telecom and Telefonica) are among the top five in the world. The firm also won a new eight-figure opportunity with another major internet content provider.

Meanwhile, Infinera has diversified its customer base, reducing its reliance on any single account. Three customers accounted for 10% or more of revenue, and the largest was an existing (but unannounced) cable MSO customer. Level 3 was slightly less than 10% of revenue.

“Our ability to grow our revenue and expand our customer base in the current environment validates that customers are investing in the optical network again and that Infinera is winning its fair share of this spending,” Singh says.

“We have expanded our total addressable market with the addition of submarine and metro edge products, and believe that our differentiated, PIC-based disruptive technology continues to resonate with customers and prospects alike as the industry’s best, most cost-effective solution to solve their business challenges,” adds Singh.

With the launch this month of its ATN metro edge product, Infinera now addresses all major categories within the $8bn DWDM space, including submarine, ultra-long haul, long-haul, regional, metro core and metro access. To date, the firm has six wins for its new ATN platform, including the recently announced ATN deployment at Deltacomm.

Also, in September Infinera strengthened its technology resources with the addition of an experienced engineering team in its new Ottawa development center. The firm says that the team has deep expertise in signal processing and complex modulation schemes (important building blocks for the next generation of optical transport products).

See related items:

Infinera’s revenues rebound slightly as non-US customers grow

Infinera’s revenue falls 23%, but gains two tier-one European customers

Infinera makes quarterly loss but adds seven new customers

Infinera’s invoiced revenue falls 11%

Search: Infinera InP PICs

Visit: www.infinera.com