Infinera posts Q3 revenue of $325 million

Infinera reported GAAP revenue of $325.3 million for its third quarter ended September 28, 2019, compared to $296.3 million in the second quarter of 2019 and $200.4 million in the third quarter of 2018.

GAAP gross margin for the quarter was 26.7% compared to 20.7% in the second quarter of 2019 and 35.0% in the third quarter of 2018. GAAP operating margin for the quarter was (21.3)% compared to (36.6)% in the second quarter of 2019 and (12.6)% in the third quarter of 2018.

GAAP net loss for the quarter was $(84.8) million, or $(0.47) per share, compared to a net loss of $(113.7) million, or $(0.64) per share, in the second quarter of 2019, and net loss of $(32.6) million, or $(0.21) per share, in the third quarter of 2018.

Non-GAAP revenue for the quarter was $327.6 million compared to $306.9 million in the second quarter of 2019 and $200.4 million in the third quarter of 2018.

“In the third quarter, we delivered solid results and achieved significant bookings growth while completing the most challenging tasks of the Coriant integration. Our focused execution and growing backlog keep us on track to deliver double our synergy savings commitments in fiscal 2019 and return to non-GAAP operating profitability and positive cash flow for the fourth quarter of 2019,” said Tom Fallon, Infinera CEO. “We have also enhanced our innovation pipeline with announced DRX wins, the successful launch of XR optics, and growing confidence in our plan to deliver 800G products to the market in 2020.”