24 April 2013

Infinera’s Q1 revenue up 19% year-on-year

For first-quarter 2013, 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 $124.6m, down 2.7% on $128.1m last quarter but up 19% on $104.7m a year ago.

On a non-GAAP basis, gross margin was 36%, level with last quarter but down from 40% a year ago. Net loss was $7.3m, up from $6m last quarter but cut from $11.2m a year ago. During the quarter, cash and cash equivalents fell from $104.7m to $99m.

“Our first quarter performance demonstrated solid execution in a traditionally slow quarter for the industry,” says president & CEO Tom Fallon. “The DTN-X platform continued to gain traction in the market. During the quarter, we received purchase commitments from six additional customers, including two new to Infinera, for a total of 27 DTN-X customer commitments to date. Customer deployments were strong and we shipped a record number of 100G ports,” he adds.

“The economic value proposition offered by Infinera’s photonic integration and long-haul 500G super-channels has generated significant interest among potential customers,” says Fallon. “As a result, our new business pipeline is extremely active and we are pursuing global opportunities in a wide variety of markets,” he notes. “We exited the first quarter with an increased backlog and a robust pipeline of potential new business, positioning us well for 2013.”

See related items:

Infinera grows revenue 14% in Q4 while it continues to cut losses

Infinera’s revenue grows 20% in Q3

Tags: Infinera InP PIC

Visit: www.infinera.com