For second-quarter 2014, 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 $165.4m, up 16% on $142.8m last quarter and up 19.5% on $138.4m a year ago.
On a non-GAAP basis, gross margin has risen further, from 38.9% a year ago and 41.8% last quarter to 43.3%. Net income was $13.5m ($0.11 per diluted share) compared to $4.2m ($0.03 per diluted share) last quarter and a net loss of $1.2m ($0.01 per share) a year ago.
“We continued the strong momentum from our solid first quarter results, delivering record quarterly revenue, an expanded gross margin and significant earnings growth,” says CEO Tom Fallon.
“We had record 100G port shipments as we experienced excellent DTN-X deployments across a broad base of customer verticals. We were pleased to add four new invoiced DTN-X customers this quarter, including a new customer to Infinera, allowing us to further capitalize on the 100G technology cycle with this new footprint,” Fallon adds.
“We see video and cloud driving bandwidth growth across our markets as well as Internet content providers building significant amounts of new capacity,” he continues. “Our technological innovation and proven operating excellence supports continued growth in the long-haul market as we enter the second half of the year and positions us well as we begin the process of expanding into new adjacent high-capacity transport markets.”
