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Infinera Corporation Reports Third Quarter 2014 Financial Results

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Infinera Corporati, provider of Intelligent Transport Networks, today released financial results for the third quarter of 2014 ended September 27, 2014.

GAAP revenue for the quarter was $173.6 million compared to $165.4 million in the second quarter of 2014 and $142.0 million in the third quarter of 2013. GAAP gross margin for the quarter was 43.4% compared to 42.5% in the second quarter of 2014 and 48.1% in the third quarter of 2013. GAAP operating margin for the quarter was 4.3% compared to 4.9% in the second quarter of 2014 and 4.5% in the third quarter of 2013.

GAAP net income for the quarter was $4.8 million, or $0.04 per diluted share, compared to net income of $4.8 million, or $0.04 per diluted share, in the second quarter of 2014, and net income of $3.3 million, or $0.03 per diluted share, in the third quarter of 2013.

Non-GAAP gross margin for the quarter was 44.2% compared to 43.3% in the second quarter of 2014 and 49.2% in the third quarter of 2013. Non-GAAP operating margin for the quarter was 8.6% compared to 9.0% in the second quarter of 2014 and 9.9% in the third quarter of 2013.

Non-GAAP net income for the quarter was $14.2 million, or $0.11 per diluted share, compared to net income of $13.5 million, or $0.11 per diluted share, in the second quarter of 2014, and net income of $12.8 million, or $0.10 per diluted share, in the third quarter of 2013.

These non-GAAP measures exclude non-cash stock-based compensation expenses and the amortization of debt discount on Infinera’s convertible senior notes. A further explanation of the use of non-GAAP financial information and a reconciliation of the non-GAAP financial measures to the GAAP equivalents can be found at the end of this release.

“I’m pleased that we continue to achieve significant revenue growth while expanding our gross margin and profit levels,” said Tom Fallon, Infinera’s Chief Executive Officer. “Our business outlook remains positive as we’ve strengthened our product portfolio with the introduction of the Cloud Xpress while enhancing our market leading DTN-X. I believe Infinera has never been better positioned as we continue to deliver what we believe are the right products at the right time.”

 

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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