For fourth-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 $128.1m, up 14% on $112.2m in Q3/2012 and $112m a year ago. Full-year revenue was $438.4m, up 8.3% on 2011’s $404.9m.
On a non-GAAP basis, gross margin for Q4 was 36%, down from 39% in Q3 and 42% a year ago. Full-year gross margin has fallen from 43% in 2011 to 38%.
Full-year net loss was $43.5m ($0.38 per diluted share), up from $31.7m ($0.29 per diluted share) in 2011. However, quarterly net loss was $6m ($0.05 per diluted share) in Q4, cut from $7.8m ($0.07 per diluted share) in Q3 and $6.7m ($0.06 per diluted share) a year ago.
“Our fourth quarter results reflected solid execution of our growth strategy and represented a strong finish to a productive year,” says president & CEO Tom Fallon. “Our DTN-X continues to gain traction and, to date, we have purchase commitments from 22 customers, including seven new to Infinera,” he adds. “These customers represent a broad cross section of our market segments. Revenue from the DTN-X platform continues to ramp.”
During Q4, Infinera announced its first domestic Tier 1 backbone deployment with CenturyLink. “We have also successfully completed the OSMINE certification process, another key milestone in demonstrating our US Tier 1 readiness. Our ability to fully service global Tier 1 customers essentially doubles our addressable market,” Fallon says. “We also added four new DTN customers during the quarter for a total of 111 customers worldwide,” he adds.
“We are optimistic about the outlook for 2013,” Fallon continues. “Interest in our unique 100G converged DWDM/OTN switching solution remains strong, resulting in significant trial activity, which has helped us build a strong pipeline into 2013. A strong focus on winning footprint and gaining market share, balanced with prudent financial management, remain our priorities for 2013.”
