Infinera Profit Tops Estimates On Higher Revenue, Margins

(RTTNews) - Fiber optic equipment maker Infinera Corp (INFN) on Tuesday reported first-quarter net earnings of $12.4 million or $0.09 per share compared with a loss of $4.4 million or $0.04 per share last year.

Excluding stock-based compensation expense and other items, adjusted earnings for the quarter were $0.16 per share compared with earnings of $0.03 per share a year ago.

Revenues for the quarter were higher at $186.9 million compared with $142.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.11 per share on revenues of $186.1 million for the quarter. Analysts' estimates typically exclude special items.

The company said its gross margin for the quarter improved to 47.2% from 40.9% last year. Operating margin was 8.1% compared with a negative margin of 0.7% a year ago.

"We continue to grow profitability as our broad customer base experiences the value of our differentiated products and superior service," said CEO Tom Fallon. "In 2015 and beyond, we intend to continue growing our business profitably, as we expand our total available market across optical transport."

Infinera shares were losing $0.46 or 2.27% at $9.76 in after-hours trade on the Nasdaq.