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News

3 August 2007

 

Infinera moves into underlying profit

For second-quarter 2007 (its first quarter as a publicly listed company), Infinera Corp of Sunnyvale, CA, USA, which makes InP-based photonic integrated chip and digital optical communications systems, has reported revenues of $58.4m, up 19% from $49.2m in Q1 (which itself showed growth of 12% from Q4/2006). Infinera’s revenues have previously grown from just $0.6m in 2004 and $4.1m in 2005 to $58.7m in 2006.

Compared to Q1/2007, net loss has risen from $19.8m to $26.1m. However, excluding non-cash stock-based compensation and warrant revaluation expenses shows an underlying improvement from a loss of $5.4m in Q1 to net income of $2.7m.

The second quarter reflected “continued success in establishing ourselves as a leading systems company in the optical networking industry,” claims CEO Jagdeep Singh. “As service providers build out their networks to accommodate growing internet traffic, they continue to embrace Infinera’s highly differentiated and highly flexible digital optical network architecture as a compelling solution for long-haul and metro optical networks,” he adds. During Q2, Infinera added five new customers, bringing the total to 31, and introduced the 40G Tributary Adapter Module (which, it claims, is the industry’s most flexible and economical means of deploying 40G services in optical networks).

*Cox Communications (the third-largest cable company in the USA) has selected an Infinera digital optical network for its national transport network, which extends 12,000 miles from coast-to-coast to provide services including voice, video, data, and wireless to residential and business customers.

See related items:

Infinera’s $182m IPO exceeds expectations

Infinera prices IPO to raise $139m

Infinera files for IPO to raise up to $150m

Visit: http://www.infinera.com