Infinera Posts Q3 Loss of $22M
SUNNYVALE, Calif., Oct. 19, 2011 — Infinera Corp, a provider of digital optical communications systems, released financial results for the third quarter ending Sept. 24. The company reported a loss of almost $22 million for the quarter, down slightly from the second quarter's loss.
Revenue for the third quarter of 2011 was $104 million compared with $96 million last quarter and $130.1 million year over year.
Net loss for the quarter was $21.8 million, or 21 cents per share, down slightly from last quarter’s loss of $24.2 million, or 23 cents per share. For the same quarter a year ago, the company posted a profit of $4.4 million, or 4 cents per diluted share.
Infinera President and CEO Tom Fallon said that the company is encouraged by its recent revenue performance and its momentum in booking activity.
"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," Fallon said.
He noted that the company's top customer for the third quarter was a North American cable company and that its pipeline remains active, with opportunities in the submarine space and with wholesale carriers in North America and Europe.
Fallon said they are pleased also with customer response to the DTN-X chips, Infinera’s new multiterabit packet optical network platform based on its third-generation 500-Gb/s PICs (photonic integrated circuits).
For more information, visit: www.infinera.com
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