Infinera reports Q2 revenue down 10.7%on last quarter
For second-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 revenues of$93.5m,down 10.7%on$104.7m last quarter and 2.6%on$96m a year ago.
Fiscal Q2/2011 Q3/2011 Q4/2011 Q1/2012 Q2/2012 Revenue$96m
$104m
$112m$104.7m$93.5m
On a non-GAAP basis(excluding non-cash stock-based compensation expenses),gross margin has fallen further,from 41%a year ago and 40%last quarter to 37%.Net loss was$18.6m,up on$11.2m last quarter and$11.7m a year ago.
"We executed well on our commitment to deliver the DTN-X to the market in the second quarter,completing critical customer trials and shipping the platform to customers for deployment as promised,"says president&CEO Tom Fallon."Reception to the DTN-X,featuring 500Gb/s long-haul super-channels along with WDM and integrated OTN switching,has been very positive and broad-based,"he adds.
"To date,we have received purchase commitments for the DTN-X from ten customers,including three customers new to Infinera.These customers represent a cross section of our markets,including cable,subsea,internet content,research&education,and Tier 1 providers,"says Fallon."We remain on track to recognize revenues from DTN-X sales beginning in the third quarter,"he adds."While we are growing more cautious regarding the macro-economic environment and the outlook for capex spending in the second half of 2012,we are pleased with the market acceptance of the DTN-X."
