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24 October 2012

Infinera’s revenue grows 20% in Q3

For third-quarter 2012, 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 $112.2m, up 20% on $93.5m last quarter and 8% on $104m on a year ago.

On a non-GAAP basis (excluding non-cash stock-based compensation expenses) gross margin has rebounded from the low of 37% last quarter to 39%, although this is still down on 41% a year ago. Net loss was $7.8m, cut from $18.6m last quarter and $9.2m a year ago.

“The DTN-X [a 100G converged WDM/OTN switching platform] is experiencing strong traction around the world,” says president & CEO Tom Fallon. “We now have 16 purchase commitments, representing five new customers and 11 existing customers. These commitments come from customers in North America, Europe and Asia Pacific and include commitments from all of our vertical markets,” he adds. “The DTN-X is in full deployment across the globe and, as forecasted, we began recognizing revenue from this platform in the third quarter.”

“We are at the beginning of what we believe will be an expansive market opportunity for 100G that will extend over many years,” says Fallon. “We are pleased with the very strong initial support for the DTN-X,” he adds. “Customers appreciate the superior scale, efficiency, reliability, simplicity and lower total cost of ownership offered by the DTN-X,” Fallon believes, “and we are very optimistic about the outlook for its continued adoption.”  

“We are also seeing continued wins with our DTN platform, with three new DTN customers in the quarter,” Fallon continues. “Our Digital Optical Network portfolio now delivers the same ease-of-use and quality across multiple applications in multiple markets,” he adds.  

Tags: Infinera InP PIC


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