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May 2nd, 2012
Infinera’s losses grow as revenue falls 6.5% in Q1
For first-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 $104.7m, down 6.5% on $112m last quarter but up 12.7% on $92.9m a year ago.
An internet content provider was the sole greater-than-10% customer, while three wholesale carriers and one cable company completed the top five customers. The firm also added four new customers for its DTN platform. In addition, Telstra International became the first announced DTN 40G customer. Q1 also saw the start of the Telcordia OSMINE certification process to satisfy a North American tier-1 carrier request. “Activity in our first quarter reflected demand from our customers for both our existing and next-generation platforms,” says president & CEO Tom Fallon. On a non-GAAP basis, gross margin has fallen further, from 48% a year ago and 42% last quarter to 40%. Net loss has risen from $4m a year ago and $6.7m last quarter to $11.2m.
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