Infinera Posts Q1 Revenue of $124.6 Million, Loss Narrows

Infinera reported Q1 revenue of $124.6 million, compared to $128.1 million in the fourth quarter of 2012 and $104.7 million in the first quarter of 2012.  The GAAP gross margin for Q1 was 34% compared to 34% in the fourth quarter of 2012 and 39% in the first quarter of 2012.  GAAP net loss for the quarter was $(15.3) million, or $(0.13) per share, compared to net loss of $(16.1) million, or $(0.14) per share, in the fourth quarter of 2012 and net loss of $(20.6) million, or $(0.19) per share, in the first quarter of 2012.

“Our first quarter performance demonstrated solid execution in a traditionally slow quarter for the industry,” said Tom Fallon, president and chief executive officer.  “The DTN-X platform continued to gain traction in the market.  During the quarter, we received purchase commitments from six additional customers, including two new to Infinera, for a total of 27 DTN-X customer commitments to date.  Customer deployments were strong and we shipped a record number of 100G ports.

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