19 October 2011

Infinera cuts loss as Q3 revenue rebounds by 8% on Q2   

For third-quarter 2011, Infinera Corp 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 $104m, down 20% on $130.1m a year ago but up 8% on $96m last quarter. 

“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,” says president & CEO Tom Fallon. “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,” he adds.

Fallon notes that the top customer in Q3 was one of North America’s leading cable companies and that Infinera’s pipeline remains active, with opportunities in the submarine space and with wholesale carriers in North America and Europe. One of the Tier 1 customers was among its top five customers in Q3.

On a non-GAAP basis (excluding restructuring and other related costs and non-cash stock-based compensation expenses), gross margin was 41%, down from 51% a year ago but level with last quarter. Net loss has been cut from $11.7m last quarter to $9.2m, although this compares with net income of $18.7m a year ago.

“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 500Gb/s PICs, a pair of chips that integrate more than 600 optical functions and will deliver the world’s first 500Gb/s FlexCoherent super-channels,” says 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,” he adds.

See related items:

Infinera’s Q2 revenue rebounds but losses rise during new product development

Infinera’s quarterly revenue falls 20.7%

Infinera’s revenue dips 10% in Q4, but still up 30% year-on-year

Infinera reports revenue up 56% year-on-year to $130.1m in Q3

Tags: Infinera

Visit: www.infinera.com