Infinera reported GAAP revenue for the quarter was $340.2 million, up 2.6% compared to $331.6 million in the second quarter of 2020 and up 4.2% from $325.3 million in the third quarter of 2019. GAAP gross margin for the quarter was 31.8% compared to 29.4% in the second quarter of 2020 and 26.7% in the third quarter of 2019. Non-GAAP net income for the quarter was $4.2 million, or $0.02 per share, compared to a net loss of $(17.2) million, or $(0.09) per share, in the second quarter of 2020, and a net loss of $(30.5) million, or $(0.17) per share, in the third quarter of 2019.
“We delivered a very strong Q3, achieving non-GAAP operating profitability with non-GAAP revenue, gross margin and operating margin growing both sequentially and year-over-year,” said David Heard, Infinera COO. “We remain focused on the opportunity to grow our market share, expand margins and drive earnings growth through innovation and operational execution.”
“I continue to be very optimistic about the opportunities ahead of us that are created as the industry transitions to 800G, Open Optical networks and intelligent pluggables,” continued Tom Fallon, Infinera CEO. “These transitions are happening in a healthier competitive environment where vertical integration and assurance of network security are increasingly valued.”
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