29 April 2011

Infinera’s quarterly revenue falls 20.7%

For first-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 $92.9m, down 20.7% on $117.1m last quarter and down 3% on $95.8m a year ago.

“Our first quarter results were achieved based on continuing demand for our product portfolio from our existing customers, which reflects continuing steady growth in end-user demand for bandwidth, but we saw slower new footprint activity in Q1 versus a year ago,” says president & CEO Tom Fallon.

On a non-GAAP basis (excluding restructuring and other related costs and non-cash stock-based compensation expenses), gross margin has risen from 41% a year ago to 48%, but this is down from 51% last quarter. Compared with net income of $7.6m last quarter, net loss was $4m, although this is cut from $7m a year ago.

“Customers continue to show strong interest in our photonic integrated circuit technology and in the field trial demonstrations of the differentiated features of our upcoming new products—our 40G transmission solution with FlexCoherent technology and our next-generation 500Gb/s PIC solution, which will support 100G transmission applications,” says Fallon.

“We are growing the number of customers who are buying a multi-product Infinera solution,” says Fallon. “This includes customers buying either a combination of long-haul and metro solutions or a combination of terrestrial and subsea solutions. At the end of Q1, we had 26 multi-platform customers out of a total of 86 customers worldwide. This is an important trend as these customers have made a more significant architectural commitment to Infinera,” he adds. “Finally, we continue to build additional features and capabilities into our ATN metro platform, and in the second quarter we will add Ethernet aggregation functionality.”

See related items:

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

Infinera reports 62% year-on-year revenue growth to record $111.4m in Q2

Infinera grabs second position in global long-haul optical networking market

Infinera grows for fourth consecutive quarter

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